What is "centre right"?

During the mass exodus of people from the conservative party, I've heard a new term pop up. This term is "center right". I don't follow politics closely, but this is the first time I've been hearing this term. Is there such thing as a center party? If you are "centre right" , aren't you just on the right? I suspect that once you're a conservative, you're always a conservative in terms of thinking.