Thanks very much for identifying the location of the picture. As you ask I have uploaded the other picture. On th reverse it says: "This is near our flat the childrens' playground". The couple in the picture are my great aunt and uncle, Charles and Ellen Olson. He was a director of Thoresens Shipping as far as I know until he left HK in the late 20s.
Charles W Olson and Ethel also lived at 13 Broadwood Road in 1913 and I think that house was probably the property of my grandfather John Olson or perhaps my great grandfather who was also named John Olson.
The postcard you have added is brilliant and very like cards I have in the family collection. I posted a b/w of Happy Valley showing two houses my family lived in.
You can reference these other posts I have made regarding Broadwood Road by searching for John Olson.
As I have said I also posted another picture of the bungalow in which you may be able to make out two headlands to the left of the house. Whether that helps I don't know. I have a memory of being told that some of the family had a summer house near Repluse Bay. May be wrong there. Getting old!