The UK 47GHz or allocation runs from 47,000.000-47,200.000 MHz with the centre of the narrow band operating segment at 47,088.2 MHz.
See the  for full details.
There are a number of narrow band beacons licensed in the 47 GHz band - see this page for an up to date list. At the moment only GB3CCX is operational
47 GHz Equipment
At the moment the only commercial option is the range of DB6NT equipment, but this is mind-numbingly expensive for the average amateur. It is possible to make short range QSOs on the band using simple mixer transverters and multipliers but range will be limited. An example of such equipment can be found at http://www.rfdesign.co.uk/microwave/Content/Simple%2047GHz%20Transverter2.pdf
47 GHz Power amplifiers
These are really specialised and expensive at the moment. There are few surplus options that can be modified without expensive test equipment
47 GHz Antennas
Small high accuracy dishes are used on this band and can be constructed from items such as lamp reflectors.