We stayed here as a family of four in a two bedroom apartment for one night. The apartment was small, but was totally fine for us and given the very central location is probably not really that small at all. It has a small living area with TV, a well provisioned kitchen and downstairs bathroom including shower. Upstairs were two bedrooms with a bathroom. There are small balconies on both levels which I really liked. It is a modern fit out in a charmingly old building. There is a restaurant on site but we didn't use it, it looked to be very busy and the menu is good. Our concierge was courteous and helpful. I agree with other comments - this is not expensive by some standards, but is good value for money given the location, service and standard of accommodation. The location is a two or three minute walk to Southern Cross station and the shops there, and also not far from the Southbank precinct.
My only issue was that it was a little noisy at night with air conditioners from other buildings below our windows, however I'm a light sleeper so it probably wouldn't bother most people.