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'An accident waiting to happen' is a turn of phrase it does not refer to the incident in particular I am not sure what the benefit is of contorting the language to a point where you can not express yourself is?
To re-phrase my original point the corner between Victoria St. and Buckingham Palace Road has been made excessively risky to cyclists using it by the introduction of a widened pavement built by and for the Nova Victoria development to encourage tourists and the general public to visit their Gastronopolis which is located in the middle of the Victoria giratory with no traffic free access. No provision at all has been made for the thousands of cyclists using this junction and it was predictable that a serious accident would happen at sometime to a cyclist using it.
Please don't use the word accident.