Released as a double A-sided single with “Strawberry Fields Forever” on the flip side, “Penny Lane” was the 13th U.S. #1 single for The Beatles and the first Beatles song release in the U.K. Both songs were recorded during the sessions for Sgt. Pepper’s Lonely Hearts Club Band and never included on an official original Beatles album release.
Both songs were written about actual places in the band’s hometown of Liverpool. Paul McCartney wrote “Penny Lane” in response to Lennon’s “Strawberry Fields” (though both are credited to the Lennon/McCartney team). Both the street itself and particular sites along it mentioned in the song are actual places, and the name was also assigned to a bus shelter on a roundabout where the members of The Beatles often passed through in their youth.
The song in fact began many years earlier with notes McCartney took about the barber’s shop and woman selling poppies while waiting at the bus stop for Lennon. The shelter itself would later become a restaurant named Sgt. Pepper’s, one of a number of businesses along the street and in Liverpool to take their cue from The Beatles. The city has also in recent decades sought to encourage the lane as an alternative business and commerce district.