Terrible place in shade, perhaps (5)
I believe the answer is:
hades
'terrible place' is the definition.
'shade perhaps' is the wordplay.
'perhaps' is an anagram indicator.
'shade' is an anagram of 'HADES'.
'in' is the link.
(Other definitions for hades that I've seen before include "Greek underworld with spirits of the dead" , "gloomy place" , "A place of some darkness" , "In Greek myth, the Underworld" , "Underworld, hell" .)