Yes, but I would consider it somewhat rude to use the bell in a space where both bikes and pedestrians are allowed. If it would be required to be used regularly, I'd say the path is badly designed.

I used to commute to work by bike in ~1M city in Europe, mostly on dedicated bike lanes, but some shared, and had just the smallest, barely audible bell, only because it was required by law. I don't remember using it much at all. I don't know what the problem is. Maybe the Londoners should take a good look at themselves.