Late rising around this place -- that's heavenly! (8)
I believe the answer is:
ethereal
'heavenly' is the definition.
('ethereal' can be similar in meaning to 'heavenly')
'late rising around this place' is the wordplay.
'rising' says the letters should be written backwards (going up in a down clue).
'around' is an insertion indicator.
'this place' becomes 'here' (I've seen this in other clues**).
'late' written backwards gives 'etal'.
'etal' placed around 'here' is 'ETHEREAL'.
'that's' acts as a link.
(Other definitions for ethereal that I've seen before include "Like fairies" , "Light and delicate in appearance, heavenly" , "Delicate and perfect" , "Insubstantial or not of this world" , "Airy or supernatural" .)