Welshie
Yes, at the moment, north from here is indeed a cycle route, NCN45 goes north from here, and now goes west along Fairfield Lane from here and then south down Hayes Knoll Road, rather than along the railway trackbed, which now has track approaching this point.

Eventually, the heritage railway want to extend further northwards towards Cricklade, they may be able to do that without affecting the cycle route too much once constructed.