Living above the Lewisham Hotel

I am a 16 year old male moving out of home soon. I will not be getting any support from my parents, but it is a mutual agreement between us that I should move out. I'd rather not like to discuss reasons, etc - I just need help with one thing:
I recently got fired from my job, so I do not have any income, but I will be receiving around $400 a fortnight in youth allowance from the government.

Because of my low income (I am applying for jobs at the moment, so hopefully I can be getting some more money in), I am not able to afford great accommodation. Most places are either way too far away from school, are share accommodations (which I'd prefer not to have), or are not furnished.

I recently found a listing for a studio above the Lewisham Hotel which is affordable, furnished and I get my own place to live, and is right near my school, but I have heard that it is a dodgy place for someone, let alone a 16 year old to live. The suburb and surrounds aren't dodgy, but it is above a pub and I've been told that it's mostly drunks and junkies that live in the other rooms above the pub.

I am kinda scared, because although I get my own place to sleep, the kitchen and bathroom is shared, and I am worried that something might happen to me if I need to use them late at night or something.

Is it true that it is a bad place to live?
Is it a good idea to rent this place?
Am I able to rent it seeing as it is above a pub and I am underage?
If I do end up living there, what would you advise me to do to protect myself in case anything might happen?

Thanks