Thanks to all the responses. It is intended for model railway use, so voltage up to 15V is available. However a locally placed battery would be fine as it would have a long life I guess that it would be even easier to keep the electronics with the battery - something that I hadn't considerd - and leave the clever stuff until later. 5mm LEDs would be about scale 15" across which, although simpler, would look out of place. An in-line flasher would still be nice but a 555 seems to be an answer. Is there a circuit posted that will enable me to calculate the components needed.
Thanks
Garry