For the price you pay and the location in Perth, its reasonable value.
The staff are fantastic. The place is dated, but the staff do an amazing job of keeping the place clean and tidy.
How long you can keep this up without any investment going on, not sure, nothing lasts forever.
The free parking is a bonus, however its on a first come first served basis. The big problem here is no barrier or any private sign, so non residents just park here at free will. This is much worse at the weekends, staff do their best in the evenings, by putting notices on windscreens, (in today's society no one seems to care, as they know they will get away with it). It is not acceptable for the staff to get abuse when they tell drivers to move off the premises.
The owner needs to sort this out urgently.
Another problem, the road outside, turns into some racetrack, (again weekends a big problem), this is not the the fault of Penisula but when you have paid extra for views of Perth River and the city ( believe me its fantastic) and then you have boy racers doing circuits with loud exhausts, it totally spoils it.