The location is convenient while maintaining the tranquillity of a safe residential neighbourhood.
It works especially if you like adventure, imagining as if you get to stay on top of a tree house without actually doing so; you are fuss-free and prefers to have a private space that doesn't overwhelm you with others in the house.
It would not work as well for those who have a constant need to visit the bathroom on the ground level. Having 'door' access on the floorboards also means you will require some strength to open it overhead on the way up and hence not ideal for those who are physically weaker, have mobility constraints or super-heavy luggage.
The room can get warm on a sunny mid-day. This is not an issue when the evenings become cool. For other times of the year, I expect it to be perfectly fine.
I would stay here again without having to feel the pinch, especially when I'm inclined to make overnight trips outside the city in between my holiday exploring other parts of NSW