We had a great week-long stay at 701 Holyrood. Location is awesome and convenient for walking. Communication with host was great prior to arrival, and arrival was simple. View is good -- half of Table Mountain visible.
During our stay, price was reduced due to the lift being out of order. With reduction, value was good.
"Upscale" is definitely not an adjective I would use for this space relative to the Cape Town market. This is an older apartment fitted with a few pieces of modern furniture/fixtures. Kitchen suitable for very basic food prep.