Centrally located, so be prepared for what that means. You'll be in the middle action and on weekends it can get loud as theater goers and partiers walk by the flat especially in the front bedroom.
But the location of Steve's place outweighs this drawback greatly. For our 6 day trip in London we never traveled more than 15 minutes in any direction to catch all our sights! Steve's place is spacious and very inviting. The living room was far handier than I thought and we spent a lot of time just lounging in there. I thought it was a good value.