Where you stay in Penzance changes the shape of the visit. A town-centre base keeps you close to the station and the shops, while a harbour or bay-side stay can make the trip feel more coastal and slower-paced.
Think about whether you want to walk everywhere, stay close to the train or head out to nearby places like Newlyn or Marazion more easily. The best choice is the one that matches the rest of your plan rather than simply the nicest photo.
If your trip is short, convenience usually wins. If it is longer, a quieter base outside the busiest part of town can make the whole stay feel calmer.