The most common and most likely answer to this crossword clue is the 5 letter word STEAD
S
T
E
A
D
Buddy explains!

The straight part
We know that "place" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case place = stead.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 STEAD mean?
STEAD noun- A place, or spot, in general.
- A place where a person normally rests; a seat.
- An inhabited place; a settlement, city, town etc.
- An estate, a property with its grounds; a farm.
- The frame on which a bed is laid; a bedstead.
- (in phrases) The position or function (of someone or something), as taken on by a successor.
- An emotional or circumstantial "place" having specified advantages, qualities etc. (now only in phrases).
- To help, support, benefit or assist; to be helpful or noteful.
- To fill stead or place of.
- One's partner in a romantic relationship.