I think this is Arsenal Street and looking at the westernmost Blue Building that is yet to be demolished. The tram tracks have not been realigned.
Update: The right side of the building faces the future section of Hennessy Road in the map below and as seen here prior to realignment. The opposite end with the open verandah faces the former Praya. Comments are welcome for verification.
Date picture taken
1936
Gallery
Shows place(s)
Comments
Map of Realignment