In this case it was the pawnshop on the corner at the back that tipped him off. here's his comment.
(*NB: link to uwants removed above due to issues with Google detecting malware at that site, copy and paste at your own risk).Again, the pawn shop to the rescue. (又興大押) Looked this up and found a link with a corresponding photo at Uwants. (http://www.uwants.com/viewthread.php?tid=11902654&page=19) The location would be northern side of the cross section of Shanghai & Public Square
Now, what does this place look like today? Well, no surprise really that it has changed vastly, at least in terms of the surrounding buildings, but I guess the general aspect, with the square on the right, is still familiar.