Just found this on another forum, it might explain what it is or used to be, the info is 4 years old so take from it what you will
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They used to be markers that there was a ' GPO ' or telecom jointing box or post near by, hence the question of man hole cover above, however nowadays they are mostly obsolete with the posts been removed whent the underground plant is relocated.
BT /Openreach do a free' Dial before you dig ' service where they will send someone out to mark the area and identify any currently in service cables and wires prior to anyone digging up the pavements / roads . I'll get you the number tomorrow as it may be worth a call before anything ' happens ' to the post
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DIAL BEFORE YOU DIG CONTROL, 0800 917 3993. option 4 ... Charter Row, Sheffield South Yorkshire S1 3EF .
Not sure if this is the most recent of the local contacts
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Hope it helps