It is thought that this is not an invented caprice, but rather a topographical view, the subject of which has not yet been identified. It has been suggested that it may be a view from the Giudecca, or at Chioggia, but neither idea is entirely convincing. This picture was probably painted between 1775 and 1780. Its early provenance is the same as that for Guardi's 'A Caprice with a Ruined Arch'.
The National Gallery, Trafalgar Square, London WC2N 5DN