I believe this was the view from the Foundling Home, which was at 24 Broadwood Road. I think we are looking down on Ventris Road.
This is a description from the 1930s - 'The floor of Happy Valley contained a large racecourse frequented by vast crowds. The Chinese are incorrigible gamblers and love horses. White Russian mafoos tended the ponies, and race meetings attracted cosmopolitan and large numbers of spectators. The wealthy Europeans solidly supported the sport of kings. Excitement ran even higher when cash sweepstakes were introduced.
Jockeys, lithe and nimble, were able to make big sums of money when lucky, but more deaths occurred on the course than could reasonably be explained.'
Source: The Yip Family of Amah Rock by Jill Doggett.
Interesting view. I think Blue Pool Road is at bottom centre that proceeds uphill. The two-storey building to the right of the two long long vertical warehouses/garage buildings (?) is at the junction of Ventris Road and Blue Pool Road. Not sure if this building was the the Foundling Home and the focus of the photograph ?
Re: Happy Valley
I believe there used to be a line of houses along the curve of Wong Nei Chung Road facing Blue Pool\Sing Woo Road junctions on the race-course side. At least there used to be a kintegarten called Lap Pun right opposite Sing Woo Road back in the 1960's. The lot is now a public park\sitting area called Wong Nei Chung Road Crescent Garden.
Re: Row of Houses
Yes, there was a row of two-storey buildings just south of the racecourse bend facing Blue Pool and Sing Woo Roads. The buildings were certainly there in the 1970s and probably in the 1980s. Cannot recall when they were demolished. Residents living in Happy Valley can of course provide a better time-frame.
A view of the buildings can be seen here in this panorama shot of the racecourse and Happy Valley. I think I have a photo of these buildings from the 1930s.