Green’s Dictionary of Slang

Piccadilly adj.2

[rhy. sl.; ult. Piccadilly, area in central London]

1. silly.

[UK]S.T. Kendall Up the Frog.
[Aus]R. Aven-Bray Ridgey-Didge Oz Jack Lang 39: Piccadilly Silly.
[UK]M. Coles More Bible in Cockney 9: God was gonna punish the people for being so bloomin’ Piccadilly.

2. chilly.

[Aus]R. Aven-Bray Ridgey-Didge Oz Jack Lang 39: Piccadilly [...] chilly.
[NZ]D. Looser Boobslang [U. Canterbury D.Phil. thesis] 140/1: Piccadilly adj. chilly.