A lady-love in Oxford, perhaps (4)
I believe the answer is:
shoe
'oxford perhaps' is the definition.
(oxford is a kind of shoe)
'a lady-love in' is the wordplay.
'a lady' becomes 'she' (I've seen this in other clues**).
'love' becomes 'o' (In tennis, 'love' means 'zero').
'in' is an insertion indicator.
'she' enclosing 'o' is 'SHOE'.
(Other definitions for shoe that I've seen before include "something afoot" , "Brogue or loafer, perhaps" , "Box for holding and dispensing from pack of cards" , "Winkle-picker, for example" , "Brogue, for example" .)