Christ's College is building new student accommodation, which will have shop units on the King Street side. It looks as if the facade of the former furniture store will be incorporated in the new work. The picture was taken early on a Sunday morning, so the site was still. TL4558 : Demolition on King Street shows an earlier stage of the work.
Reality Checkpoint - so called because it supposedly marks the spot, halfway across Parker's Piece, where the bubble of Cambridge University ends and the "real world" of Cambridge city begins. I believe there used to be a plaque inscribed "reality checkpoint" on the lamp-post, but that is long gone and the words are now rather crudely scratched into the paintwork.