Where the land lies possibly (4)

I believe the answer is:

isle

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'where the land' is the definition.
Although both the answer and definition are singular nouns, I cannot see how one could define the other.

'lies possibly' is the wordplay.
'possibly' is an anagram indicator.
'lies' with letters rearranged gives 'ISLE'.

Can you help me to learn more?

(Other definitions for isle that I've seen before include "Man, maybe" , "Wight, Man or Skye" , "like 'Hoy!'" , "This is sceptred!" , "Eg, Staffa" .)

I've seen this clue in The Globe and Mail.

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