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@edscoble
nah it wouldn't be a huge mistake, in fact, the Bowery normally cost £350, so you're getting a lots of bike for not a lots of money, in fact, if you end up loving it, you could probably keep it as long as you can after you change a few compound to suit your liking/comfort.
About bike theft, just use common sense, decent lock and how to lock it properly, while carefully not to leave your bike in the E postcode area like Shoreditch.