As I understand it, you have to do the CPL training in the same country as you did your ATPLs, i.e. the UK.
"and having approx 140 hrs". Remember that you need 100 hrs P1 (not sure how much of your time is P1) to apply for the CPL (but not to begin the training).
As to the ME IR, I'm not sure. My situation is that I'm currently doing my CPL training here in the UK. I'm perfectly happy with the school, but price is an (big) issue for me, and I expect that an IR here will be a LOT more expensive that somewhere in Europe (as you've pointed out); so I'll probably end up going there.
I guess my main point is that you don't (and probably can't) have to do everything in the same place.