Having had a look at Google Streetview it turns out that it's so that cyclists can access the cycle path that runs parallel to the A316.
This however is rather narrow for both pedestrians and cyclists to share. It also doesn't allow cyclists to get out to the other side of the road for the continuation of Cole Park Road. Or maybe they are meant to go the longer route up to the roundabout to cross and then come back?
What happens if a cyclist has come along the cycle path on the other side of the road and wants to cross? What about if they have missed the access to the cycle path and want to get on to it?