This is a renewed historical building of the Hong Kong Observatory's Time Ball Tower in the Tsim Sha Tsui Marine Police Station. The Typhoon Signal Mast next to it is a re-constructed one. The original one should be a bit taller and more impressive. http://www.hko.gov.hk/gts/time/History_of_HK_Time_Service.htm

The time ball tower was later moved to Blackhead Point in January 1908 http://www.pbase.com/caveman_lee/image/49997641