波记大排档老板波叔（吴孟达 饰）同时也是太平坊一幢楼的房东，如今太平坊地盘开发，好多老邻居迫于压力搬走，波叔守着老房与租客，拒不出售老房。波叔的小舅舅大智（元彪 饰）从北京杂技团来港投奔波叔，要为自己打拼出美好前途。但波叔对后者花哨的做饭方式嗤之以鼻，认为是不务正业。另一方面，欲开发太平坊的林氏集团公子林枫（黎明 饰）不满意父亲惟利是图，愤而出走却被流氓打伤，林枫被波叔救回，得到街坊们的照顾帮助，并结识了波叔的女儿小爱（邵美琪 饰）。大智有机会赴国外发展但却遭波叔反对，二人不欢而散。林氏集团加紧了对太平坊的收购，这造成了小爱和林枫的隔阂……The film, to a certain extent, talks about the damage urbanization in Hong Kong, and the casualties it inflict. Bo is the owner of an old building in Hong Kong. He sublets his building to other people, and even though they never pay rent on time, Bo still treats them like they are family. One day, Bo discovered an unconscious man who was left for dead on a street corner, and decides to take him to his place to treat his wounds. It is later discovered that the man is Lam Feng, the son of a rich property developer. Feng's relations with his father was never good, and Feng's belief that his father indirectly caused his mother's death in a fire did not help either. During his stay at Bo's place, Feng learned about hospitality and human kindness, but things are about to unravel. Feng's father had his sight set on Bo's building, and ordered his staff to do whatever it takes to force Bo to sell his property, even if it means involving the Triads. Bo refused all offers, and the Triads eventually set fire to Bo's house. The movie also included other subplots, such as Bo's uncle, along with his acrobatic and culinary prowess.
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