John and Paul grew up in this part of Liverpool, and they’d meet at the Penny Lane intersection to catch the bus into town. Nowadays Penny Lane is an important stop on Liverpool’s Beatles Trail, evoking the Beatles’ early days.
The song refers to several local landmarks that still exist, including the ‘shelter in the middle of the roundabout’, the fire station nearby and the barber shop.
Today the area is a popular student enclave near the woods of Sefton Park, with a Penny Lane wine bar, bookshops and cafes.
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