Give back vacant residence and shop (7)
I believe the answer is:
restore
'give back' is the definition.
('restore' can be a synonym of 'give back')
'vacant residence and shop' is the wordplay.
'vacant' says to hollow out the word (remove centre letters).
'and' means one lot of letters go next to another.
'shop' becomes 'store' ('store' can be a synonym of 'shop').
'residence' with its middle removed is 're'.
're'+'store'='RESTORE'
(Other definitions for restore that I've seen before include "Refurbish" , "Make good, reinstate" , "hand it back?" , "Build up again" , "Bring back, reinstate" .)