I stayed in the 5elements a couple of years back. As far as hostels go, it was pretty good and is just a very short walk to the main train station. As long as it hasn't changed for the worse since then, I'd say it's a good choice for cheap shared accommodation. Good showers and clean rooms. Card/reader for rooms was a little flaky but no big deal, and pretty sure reception is open 24/7.
Just posting if anyone is on the fence re: accommodation