Fairly expensive but great location, central to everything. 20 minute walk to Fortitude Valley, Botanical Garden 2 blocks away. Queen Street Mall 2 blocks away. SouthBank is also just a short walk away.
A little overwhelming for a first time visitor, definitely being able to read Russian helps a little. The Metro will take you some figuring out :) Good luck, well ALL public transport will so allow lots of time and don't stress. Not as bad as people make out. Travel agents say its not safe but I had NO problems .. IT WAS AWESOME and I have been several times now and I love it every time I'm there.