The V&A Waterfront is built directly alongside Table Bay harbour - Cape Town's fully functional commercial harbour. I guess this is part of the attraction and what makes the Waterfront so darn attractive. In one basin you'll see sleek yachts, in the next small run-down fishing vessels and in the next large cargo ships.
One often finds old ships in desperate need of attention in this particular dock yard. You'll often see large scaffolding surrounding the vessels with workmen clambering all over with large sanders, grinders and welding machines. It's actually quite interesting to watch them work as you make your way along the footpath to the Clock Tower and the rest of the V&A Waterfront.