I remember Clinton Ford singing this a number of times on TV when I was a youngster (born '48 as well) but dates back to the days of George formby:

Fanlight Fanny

'Up the west end , that's the best end, where the nightclubs thrive,
Down into a dive you go
There's a jazz queen, she's a has-been, has been lord knows what
Every night she's there on show.
She dances underneath a magic spell
She's full of charm and beer and stouit as well.

She's 66 but looks sixteen,
Her friends don't know her now her face is clean
Fanlight Fanny the frowsy night club queen
See her glide around the floor, then glide around into the pub next door.
Fanlight Fanny the frowsy nightclub queen.

She looks well in the lime, a queen all the time, you get your money's worth
By day, you'd say, "it's her second time on earth".
She waltzes in the west end shops, then waltzes out between two cops.
Fannlight Fanny the frowsy nightclub queen.

She's a peach but understand,
She's called a peach because she's always canned
Fanlight Fanny the frowsy nightclub queen.

When she's dressed she's like Mae West,
She wears two saucepan lids upon her chest.
Fanlight Fanny the frowsy nightclub queen.

She looks well in the Lime, a queen all the time, you get your money's worth.
By day you'll say "it's her second time on earth".

Every morning at the break of day,
They call for the empties and cart away
Fanlight Fanny the frowsy nightclub queen.'