I'd suggest that the answer depends on where you currently reside. If you are in an EU member state then you have the right to exchange your British licence for a local one, often better as many are issued for life not just until you are 70.
If you are outside the EU enquire if there is a reciprocal exchange agreement, if not then in all my dealings with.the DVLA I've always been told that you don't need to put a residential address just a reliable contact address, family/friends/etc.
It's a problem faced not just by ex-pats, boat dwellers, the homeless even students all either have no fixed abode or a frequently changing residential address. The DVLA seem to be strangely pragmatic about this and accept that we can't all fit into their boxes.
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