Outstanding location! If you like to walk a little, in 10 minutes you're on Regent Street, then in 15 on Oxford Street. Maybe a 30 - 40 minutes walk to Buckingham Palace!
Around the corner you have some nice little restaurants with pizza and Indian food, and of couse the pub. Across the street, there is a supermarket. Basically, you have whatever you need within 3 minutes walk. So, enjoy Fitzrovia!