Pensioner storing it around courtyard (5)
I believe the answer is:
patio
'courtyard' is the definition.
(a patio is an outdoor space or courtyard)
'pensioner storing it around' is the wordplay.
'pensioner' becomes 'OAP' (old age pensioner).
'storing' is an insertion indicator.
'around' shows that the letters should be reversed in order.
'oap' going around 'it' is 'oitap'.
'oitap' back-to-front is 'PATIO'.
(Other definitions for patio that I've seen before include "Barbecue location?" , "Inner courtyard" , "Hard surface" , "area near house" , "Place to sit" .)