The most common and most likely answer to this crossword clue is the 5 letter word COWES
I've seen this crossword clue in The Times
C
O
W
E
S
More clues leading to the result COWES
- Royal regatta town is intimidating, it's said
- Does it, say, intimidate yachting visitors?
- . College has to pay island resort
- College is down in seaside town
- Crew’s leader is indebted to yachting centre
- Sailing-centre we found in Greek island
- Jerseys perhaps picked up in sailing centre
- Lower quarters for yachting week
Buddy explains!

The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.