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@Oliver Schick
Nice one, evo_--this is my ideal scenario, someone who hasn't taken part yet just bagging it. It's also known as Leonard Circus, by the way. The horrific 'sculpture' is a piece of 'public art' known as 'Hitchcock's Reel' which is meant to commemorate the fact that Hitchcock could often be found sampling the nightlife (cough) in this area when he was still in London.
The plinth it sits on was constructed because it wasn't possible to embed a counterweight in the ground owing to a fibre-optic cable. We're getting this junction changed in the next two years. I'd love to get that piece of toss away from the place altogether and to maybe have it stuck in Shoreditch Park opposite Gainsborough Studios, but that may not be possible. At any rate, the plinth is way oversized and will hopefully be reduced so that the junction can be improved.