I reckon you are about bang on there @boginspro. The original snowy scene would almost certainly be the winter of 54/55 and Burtons building is where the blue arrow is, with Syminton and Croft Ltd in between (the upstairs still appears to derelict from the damage caused in the Blitz). The reconstruction of Cockaynes appears to be well advanced, with the facade overlooking Angel Street (which we know as Argos today)
Another photo, from the opposite direction, this time in February of 1955, looking back down towards the position of the photographer in the original. Cockaynes is stil, under construction and would be finished during 1955. All the other buildings are as the original, just looking back down Angel Street towards Snig Hill, rather than back up it?
Lastly, a modern aerial view, with the approximate position and direction of the original photo, even though little of the original buildings and road layouts remain...