View the original, larger copy of this image at the UWM website: http://collections.lib.uwm.edu/cdm/ref/collection/agsphoto/id/23603
I think one is looking at the Tai Ping Shan area below Caine Road looking towards the Bacteriological Institute (Museum of Medical Sciences). A view from 1928 can be seen here
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In front of the clump of
In front of the clump of trees (visit the uwm website for a better view) is the Blake Garden pavilion we saw in the c.1928 photo.