Transit in Hong Kong

Hi, I'm new to the forum.
In January I'm flying to Australia for my brother's wedding and am stopping off en route in Hong kong for 4 days. In order to economise my better half has booked the LHR-HKG-LHR legs on BA and HKG-SYD-HKG legs on VS. This isn't a problem going out because we're staying for 4 days, however on return this allows us 3 hours between flights at HKG.
Is this enough time and how easy is it to transit between airlines at HKG? Do I collect baggage and return to check in or is there a transit channel after baggage collection?
In January I'm flying to Australia for my brother's wedding and am stopping off en route in Hong kong for 4 days. In order to economise my better half has booked the LHR-HKG-LHR legs on BA and HKG-SYD-HKG legs on VS. This isn't a problem going out because we're staying for 4 days, however on return this allows us 3 hours between flights at HKG.
Is this enough time and how easy is it to transit between airlines at HKG? Do I collect baggage and return to check in or is there a transit channel after baggage collection?