The most common and most likely answer to this crossword clue is the 11 letter word THEREABOUTS
I've seen this crossword clue in The Daily Telegraph
T
H
E
R
E
A
B
O
U
T
S
More clues leading to the result THEREABOUTS
Buddy explains!

The straight part
We know that "nearby" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case nearby = thereabouts.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 THEREABOUTS mean?
THEREABOUTS adverb- Near that place, time or date
- Approximately that number
- Concerning that; about that
- Location