Another similar and nice place in the same neighborhood is 4 on Varneys. (www.4onvarneys.co.za) Also very nice, accommodating French owners, and even slightly closer to the V&A Waterfront.

I wanted to react slightly to the desirability of walking from either to the V&A. Those who know my posts know that I normally say that security concerns are often exaggerated for places most tourists frequent, and I still believe that. You can almost certainly walk to/from either of these establishments to the V&A to nice restaurants and shops in the day time. I would be cautious at night, and would watch the time for returning if you arrive in daylight, but the sun sets. Or take the very short taxi (metered) ride. I have been in Cape Town about 25 or 30 times in the last several years, and I would normally drive even that short distance, and I am certainly not paranoid.

I am usually in Rondebosch, but if I were in town, I would actually prefer to stay in de Waterkant which while it is actually further away (again slightly) from the V&A, has the Cape Quarter with high end (and modest restaurants) and shops, lounges, night life, etc. For the gay community, it is the heart of the gay nightlife, all within steps. The b&b's (principally de Waterkant Village, 17 on Loader, etc), can have a bit more street noise but the area is as safe as it gets. Just a thought.