Good picture, not seen that one before. It also gives us an idea when the Prince Alfred was demolished, as the ground seems freshly cleared.
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Description: Wellington Place makes way for the new New Chester Rd. c 1968
My best guess is that its location is now part of the central reservation between the northbound lane going to the flyover / link road to Central station, and the southbound lanes coming from the Woodside direction towards Lairds main gate roundabout.
In the background, far left, is the old railway bridge which got replaced with a wider one to coincide with the new road layout. This became redundant and was eventually removed. The area of the railway sidings became the new trading estate. The PC world building, at the north end, was actually a later addition to the others, but in the same style. Just wind back Google Earth to 2000 and you'll see.
I don't think the road alignment moved very far on the river side of New Chester Road at this point, perhaps only the width of the pavement, while the west side, including the pubs, were completely demolished for the approach roads.
The picture below is taken from almost the same place as the one above. As far as I can tell, the bus is cutting through the last part of Wellington Place, intended to be a works access, but he had come along the wrong bit of road in error. ( I know, I was there!)
Edited by Norton (21st Sep 2013 1:11pm)
Edit Reason: Picture upload