Penny Lane" is a song by The Beatles, written by Paul McCartney, recorded during the Sgt. Pepper sessions, and released in February, 1967 as one side of a double A-sided single, along with Lennon's "Strawberry Fields Forever". Beatles producer George Martin has stated he believes the pairing of these songs results in probably the greatest single ever released by the group.
Both songs were later released on the US Magical Mystery Tour album in November, 1967. The song features contrasting verse-chorus form and was credited "Lennon-McCartney", although McCartney was the main contributor to the song (Lennon reportedly helped with one of the verses) . The song's title is derived from the name of a street in the English city of Liverpool. The area that surrounds its junction with Smithdown Road is also commonly called Penny Lane. Locally the term "Penny Lane" was the name given to Allerton Road and Smithdown Road and its busy shopping area.