I think you're right. Immediate post war period was grim, rationing until 53, bomb sites everywhere, smog to name a few. The Raleigh Lenton sports and RRA must have been a sight to behold.I have a particular fondness for all of those post war 531 framed bikes with their bright colour schemes which most of the well known manufacturers made, how they must have brightened up the cycling scene compared to pre-war when it seemed it was any colour as long as it was black.
If it is a Kestrel it's probably worth saving. There were a lot of similar frames though. I'm not quite that old, not that age means anything. I'm still 21A bomb site was our playground in the early fifties! Plenty of deep holes for dens, covered precariously by great, rusty and heavy sheets of corrugated iron...
I see a couple of Kestrels on ebay, one a frame not much better than the one at the tip - £250! Another - a nice restoration - £650!
I'm liking it more and more.