A bunk ass town in the middle of nowhere. There is typically nothing to do, and everyone spends all day getting high, planning to get high, or trying to get money to get high. Noone ever leaves this town, and it's best to avoid it all together.

a phrase chiefly used in northern England.

it is a contracted form of "it'll be reet", where "reet" means "alright" or "OK".

living your life according to "be reet" is the only way to find happiness in life.