The most common and most likely answer to this crossword clue is the 5 letter word BASED
I've seen this crossword clue in Independent
B
A
S
E
D
More clues leading to the result BASED
- Located while in sleeping place
- Established plot involving poisonous element
- Stationed in vile digs, initially
- Put in home when retired?
- Just when buried in plot, located
- Positioned with prejudice … Boatman is excluded
- Located wings of albatross in part of garden
- Having HQ maybe in home counties – nasty to get round
- Established when apparently asleep
- Dishonourable duke put in a permanent place
Buddy explains!

The straight part
We know that "Located" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case located = based.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.
What does BASED mean?
BASED verb- To give as its foundation or starting point; to lay the foundation of.
- To be located (at a particular place).
- (acrobatics, cheerleading) To act as a base; to be the person supporting the flyer.
- Founded on; having a basis; often used in combining forms.
- (of a person) Not caring what others think about one's personality, style, or behavior; focused on maintaining individuality.
- (4chan, Reddit, Instagram) Praiseworthy and admirable, often through exhibiting independence and security.