A place where people live. A place where beer is sold. A place where a church exists. A place in which there is a school a post office a grocery store and a couple of restaurants.
Used by those who live in commuter towns in the Home Counties (Berkshire, Buckinghamshire, Essex, Hertfordshire, Kent and Surrey) to refer to London (often the centre or Zone 1 area). More common amongst those who work in the city.
*walk into a plush hotel* This place is swanktown!
*walk into a bar full of attractive girls* This place is bufftown!
*walk into a nastytoilet* Shit, this hole is manktown.