Great location, great price! It was really perfect for what we needed. We weren't really there much except to sleep and the location was a perfect jumping off point to everything Launceston and Tasmania has to offer.
Having a car park in the centre of Launceston is great!!
The beds were pretty good, everything was very clean. Comfortable couches and a TV in the living room. Good shower, plenty of hot water and a heated towel rail!
Good size fridge and cooking facilities - the kitchen is very small, so probably don't expect to be cooking your Sunday roast in there!
There are three bedrooms, one with a QS bed on the main floor, which my parents took (of course!!) and two on the top floor (one with a QS and one with a S), the two on the top floor have low sloping ceilings, which is a bit hard with a 6'7" husband, but not the end of the world!! It also gets quite hot on the top floor in summer.
There was a lot of construction going on when we were there. There was no problem with noise or anything, but my parents (who are used to staying in nice hotels) were a bit unimpressed. As long as you don't want a picture perfect instagram photo of the outside of the building - you'll be fine. If you really need that insta shot - the view from the balcony is spectacular!