Pancho's place? (5)

I believe the answer is:

villa

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'place?' is the definition.
(I know that villa is a type of country house)

I don't understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for villa that I've seen before include "Classical country house" , "Large country house" , "Roman or suburban house" , "Aston ..., English Premier League club" , "SECOND PART OF 8" .)

I've seen this clue in the Evening Standard.

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