Yes, it is only pop and culture, and therefore does not need a road, as Maplestone said. Check the population per square. If it works out better than a residence at your level, place it. Or, if you have a lot of weird spots that don't have roads, then tuck it into one of those.
You will always be selling buildings and replacing them as you progress, so don't worry if you aren't sure you want it. If you have the space and it's worth it, per square, then place it. Selling it later for something better will be a good strategy, rather than trying to spend too many royal restorations to upgrade it. There are some buildings that you will really want to upgrade, like the evolving buildings, bears, phoenixes, etc. Things like the Wizards Spell shop are not as important and so you'll eventually sell it or disenchant it.