Owns empty theatre, showing recklessness (5)
I believe the answer is:
haste
'recklessness' is the definition.
(I've seen this in another clue)
'owns empty theatre' is the wordplay.
'owns' becomes 'has' ('have' can be a synonym of 'own').
'empty' suggests removing the centre.
'theatre' with its centre removed is 'te'.
'has'+'te'='HASTE'
'showing' acts as a link.
(Other definitions for haste that I've seen before include "go at speed" , "make speed" , "Heats (anag.)" , "The more of it, the less speed, it is said" , "Excessive speed or urgency" .)