Piccadilly Circus has since been dismantled. In its place is a set of cross roads. Eastbound traffic on Macalister Road continues to Peel Avenue while westbound traffic on Macalister Road continues on Residency Road. Traffic heading south from Codrington Avenue may either turn left to Peel Avenue, or cross the intersection of Macalister Road to Residency Road. Through-drives are also added to enable direct traffic flow for eastbound traffic on Macalister Road to continue to Residency Road, and westbound traffic on Macalister Road to enter Peel Avenue.
In the last few years, the site of Piccadilly Circus has been landscaped. Today the lawn is well maintained. There are fountains. Unfortunately at the time of my visit, the main fountain does not seem to be working.
Updates
June 2015: After just over a year in existence, the roundabout put up by the city council was torn down and replaced with a new set of traffic lights once again. Traffic from Macalister Road has uninterrupted flow to Residency Road. There is still a junction for the intersection between Macalister Road with Cordington Avenue and Peel Avenue.
28 September, 2013: A new roundabout has been created by the MPPP on the site of Piccadilly Circus, as part of the traffic dispersal system for Pulau Tikus.