A Caledonian racecourse (5)

I believe the answer is:

ascot

'racecourse' is the definition.
(I've seen this before)

'a caledonian' is the wordplay.
'caledonian' becomes 'scot' (I've seen this before).
'a'+'scot'='ASCOT'

(Other definitions for ascot that I've seen before include "Racecourse, home to the Gold Cup since 1807" , "Racecourse and cravat" , "Broad necktie" , "sporting event" , "Tie or cravat" .)

I've seen this clue in The Guardian, The Telegraph and The Irish Independent.

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