That is William Brown St.
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Yes, I saw drawings of a really modern looking buildings with long straight window lines on the site of the North Western Hotel, circa 1947. Thank God that never happened.
The hotel was a failure and was railway offices after and much of the time unused or partially used, so developers were always keen to get their hands on it and demolish. I don't think it would make a great hotel today as it is too far from the docks/river, where most hotels want to be, and should be.