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@Adorno
official response from Hackney head of waste stuff:
The process is that Environmental Enforcement Officers place a notice of removal on any bike (or what is left of it) that appears to have been abandoned, allowing seven days for its removal. When the allotted time is up, Waste Services is asked to remove the bike and they hold it for a further 28 days. Following this, the bikes go in with the general metal which is all recycled and the Council get the revenue from this.
None of the bikes or parts of them are of much reuse value which is probably why they have been abandoned. However, please rest assured that no bikes or bike parts (including tyres) go to landfill, all are recycled.