Position around area in Buckingham for one (6)
I believe the answer is:
palace
'buckingham for one' is the definition.
(Buckingham Palace is an example)
'position around area' is the wordplay.
'position' becomes 'place' (synonyms).
'around' means one lot of letters goes inside another.
'area' becomes 'a' (maths abbreviation).
'place' going around 'a' is 'PALACE'.
'in' acts as a link.
(Other definitions for palace that I've seen before include "Grand building" , "large house" , "Head of state's residence" , "Royal dwelling" , "Royal building" .)