A lot valued textbook Wallaby skipper on leader failing, say (5,4,6)

I believe the answer is:

prime real estate

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'a lot valued' is the definition.
I don't know anything about this answer so I can't judge whether it can be defined by this definition.

'textbook wallaby skipper on leader failing say' is the wordplay.
I cannot really understand how this works, but
'textbook' could be 'primer' (primer is a kind of textbook) and 'primer' is located in the answer.
'on' could be 'at' (I've seen this in other clues) and 'at' is located in the answer.
This may be the basis of the clue (or it may be nonsense).

Can you help me to learn more?

I've seen this clue in the Sydney Morning Herald.

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