Look out!!!!!!!! (7)?

Question

answer is place in british isles or ireland

Answer 1

Sorry, but totaly confused.

Answer 2

You know, it only takes a few seconds to type "This is a British Crossword answer".  You're confusing the people in the U.S. who don't know how to answer your question.

He's looking for a 7-letter place name (city, village) in the U.K. who's name has another, more cryptic meaning.  

A British crossword clue has 2 parts - the definition, and a bit of wordplay - a pun, an anagram, a homophone, that also leads to the same answer.

Here the exclamation points mean that the same words for the definition are also the same words used for the wordplay.  So we need a definition of "Look out" - such as beware, or pay heed, that also is a punny clue that leads us to the name of the UK town or village.

Is there a UK town called "Payheed"?