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Put the butter in a large, high-sided frying pan, then fry the shallots and peppercorns over a medium heat for 5 mins, until the shallots have softened but not browned. Add the brandy and cook until it has reduced away to almost nothing.
Pour the wine into the pan, turn up the heat and boil rapidly until reduced by half. Add the stock and reduce again, this time by two-thirds, this will take around 5 mins. Stir the cream into the sauce and allow it to thicken slightly. Check the sauce is seasoned to your liking before serving with steak.