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Last Minute London Apt - Need Help Deciding

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We had rented an apt in Covent Garden but we can no longer afford it. Our two options now are a 1 bedroom near the Monument tube stop (post code Ec3r 8dr) or a 2 bedroom in S. Kensington/Earl's Court (?) (post code SW7 4NN). I know both are not necessarily ideal locations, but they are all we can afford. This is our 1st trip there and we want to do the usual touristy stuff. Thank you.

Other factors include:
1. we are planning to make several partial day trips to the NE part of the city (zone 4, off the central Red line) so in that case, the Monument apt seems better located.
2. Since we have 2 little ones, a 2 bedroom apt will be useful, hence the draw to the S. Ken apt.

There will also be days when only my husband will be away (in zone 4), so it will just be myself and the 2 kids. Which location is better for me to roam with the girls, walk around, find something to eat, go shopping, etc? I have no idea. It seems the Monument apt may be closer to most of the sights we want to visit (except for Buckingham Palace and the Natural History Museum), but I am afraid of the location being too business/financial district oriented, where all the restaurants and shops close down after business hours. Is that a correct or incorrect assumption?

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