I know this is an old post but I was also wondering what this place was and then happened across this thread. So I then did a google map on it, found it, and from what I can tell, it appears to be several Karaoke places. By the way, generally speaking, if a place says, "OK", that means Karaoke (that is my experience, correct me if I am wrong, anyone). I can also say that this must be an old picture because in fact, if you look at this image, just above the overhang, you will see the one picture of a group of girls in bikini's, but now, that whole lower part of the building is covered in large images of girls in bikini's. This would tend to give one the impression that this place is some kind of sauna but the "OK" signs tell another tale.
Karaoke will let you spend a ton of money on expensive drinks while you make some selections, do some general groping and figure out if there is a girl you would like to take out (additional costs). Mostly, these places are not going to be Gwialo friendly unless you are with a local and even then, in Hong Kong, the Karaoke (sex) scene is near dead. If you want to go for that, head up north.
Now, if anyone knows more information on this building and what is actually the true scene, please, by all means, ears and eyes are open. I say this because they have added the ton of new pictures and lots of lights as of lately so someone is putting some money into that place. Maybe, hopefully, there is more to it then my observation.
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