The Obelisk standing outside the entrance to Bayworld has a very interesting history and is probably the only "second hand" royal memorial in the world. The obelisk was carved in France out of stone similar to granite for the London World Exhibition in 1862. It was then acquired by John Paterson, who started the Eastern Province Herald, to be put on the grave of his brother-in-law and partner George Kemp. Kemp's family weren't very impressed with the idea but excepted it as it was already at sea on its way to Algoa Bay. On its arrival in the city it was donated to the town council. The obelisk was erected in front of the Port Elizabeth City Hall in 1863 to commemorate the wedding of Albert Edward, Prince of Wales, to Princess Alexandra of Denmark. Around the obelisk four granite water troughs were also constructed. The obelisk were replaced by a Howitzer gun (cannon) in 1921 after which it was put into storage until 1975 when it was erected outside the entrance to Bayworld where it still stands today.
I got the above information off Afrikaans Wikipedia, and further investigation told me that it was researched and written by Roché Petersen who is a regular visitor to PE Daily Photo.