It depends on the cycle track. The mainstream guidance says "8.2.2 - A design speed of 20 mph is preferred for offroad routes intended predominantly for utility cycling. This provides a margin of safety for most cyclists. [...] Routes with design speeds significantly below 20 mph are unlikely to be attractive to regular commuter cyclists, and it may be necessary to ensure there is an alternative oncarriageway route for this user category."
The latest HEe-hee guidance (mainly for A roads, IAN 195/16) says (Table 2.2.3) "On down gradients of 3% or greater - Design speed 40kph; All other off-carriageway cycle route provision - Design Speed 30 kph, Absolute Minimum Design Speed 20kph [...] The Absolute Minimum design speed shown in Table 2.2.3 is only permitted in the circumstances described in Section 1.3 and for distances up to 100 metres if combined with the use of ‘SLOW’ markings, although this is not permitted on downhill gradients of 3% or greater."
Of course, much of what's been built in the dark days fails to comply with the guidance and it may be considered careless, reckless or wanton to ride that fast on some of it.