We were pleasantly surprised when we got to The Loft - renovated from an old brickworks - it has plenty of charm and is very funky. We booked a double private en-suite, which was cheap at $16 a night, but the bathroom had a rancid odour coming from it all the time.
The staff, to their credit, did everything possible - the manager came up to inspect it and she sent the cleaners in twice (although they just ran loads of water down the sink and shower, which didn't do anything at all!) but there were no other rooms available so we just stuck with it and opened the windows and turned the air-con on full blast.
Apart from that, the small seating / lounge area was really nice and comfortable. The breakfasts were especially good and the beer was cheap.
So once they sort out their drainage problem, I'm sure it'll be a lot nicer.