Penwood is a village in the civil parish of Highclere in the Basingstoke and Deane district of Hampshire, England. Its nearest town is Newbury, which lies approximately 4.1 miles (6.4 km) north-east from the village. Penwood has three main housing estates: Penwood Heights, Woodlands and Heathlands. There is a small shop and Chinese takeaway in the village.
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