Good place going cheap for a pound (6)
I believe the answer is:
Here is my best explanation:
'good place' is the definition.
(I've seen this before)
'going cheap for a pound' is the wordplay.
'going cheap for' becomes 'chape' (I can't justify this - if you can you should believe this answer much more).
'a pound' becomes 'l'.
Can you help me to learn more?