College zone parking south of river outside of undertakers (6)
I believe the answer is:
campus
'college zone' is the definition.
'parking south of river outside of undertakers' is the wordplay.
'parking' becomes 'p'.
'south of' means one lot of letters go next to another.
'river' becomes 'cam' (I've seen this before).
'outside of' suggests removing the centre.
'undertakers' with its middle taken out is 'us'.
'p' after 'cam' is 'camp'.
'camp'+'us'='CAMPUS'
(Other definitions for campus that I've seen before include "College estate" , "Grounds of university or college" , "university's environs" , "University location" , "University premises" .)