Repaired, and as good as new, time having moved on (8)
I believe the answer is:
resorted
'repaired' is the definition.
(to repair somewhere is to stay or resort there)
'as good as new time having moved on' is the wordplay.
I cannot really understand how this works, but
'as' could be 'so' (I've seen this in other clues) and 'so' is present in the answer.
'time' could be 't' (abbreviation) and 't' is located in the answer.
'on' could be 're' ('on' can be mean 'with reference to') and 're' is found within the answer.
The remaining letters 'red' is a valid word which might be clued in a way I don't understand.
This may be the basis of the clue (or it may be nonsense).
'and' acts as a link.
(Other definitions for resorted that I've seen before include "turned to" , "Given new order" .)