This is one of the entrances to the Cape Quarter. If you're visiting, or new to the area, you may be confused if you're unable to find this entrance, or the friends who promised to meet you. If this happens, the reason could be pretty simple - there are essentially two areas (separated by a narrow road called Dixon Street) that make up The Cape Quarter.
This photo was taken at The Piazza, the open-air square (map), and if you can't find your friends, it's probably because you went to The Square (which, by the way, has fairly cheap underground parking).
As a tip - the Piazza is definitely a place to visit when here on holiday; and if you're in the mood for some great, and affordable sushi - visit Aqua Restaurant, they have half-price sushi from 12pm to 5pm! :)