This is the Honda motorcycle shop where John Cheung's character works and where the Chinese agents have their training room.
I don't think the section of building we can see above containing the Honda dealership is still around, I have a sneaky feeling it has already been replaced by a newer building called Nelson Court (built 2001). Of course, the camera angle may be deceiving my eyes because the section of store front does look very similar to Tsui Yuen Mansion which is still around today. Anyway, feel free to offer opinions on how far down the road the camera is positioned. There are some other things still around including some of the buildings at the background behind the track/bridge. The nearest one (yellow, on the right) is Gay Mansion (built 1966), and just behind that is the Tsan Yung Mansion (built 1964) - this was the same building that used to house the Blue Taxi Cab Company Limited seen in David Chiang's The Taxi Driver. It's the one with the curved lower floor facade and small red balconies. Following that, just behind the red balconies is the slightly older Liberty Mansion (built 1962). There is another older building still standing but it is hidden on the far side of Liberty mansion in this screen shot. Here is the modern Streetview for a reasonable comparison.
The KCR track has been upgraded to a double track in the late 70's and I suspect it was this event that saw the replacement of the bridge with its current much larger version.
In the film we get a brief glimpse of the view from the shop and the greenery on the other side of the road. This is the grounds of the Wylie Road garden and that space currently has a basketball court on it.
