After a century, be beaten in a near thing! (5)

I believe the answer is:

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'near thing' is the definition.
'close' can be an answer for 'near' (I've seen this before). I am not certain of the 'thing' bit.

'after a century be beaten' is the wordplay.
'after' is a charade indicator (letters next to each other).
'a century' becomes 'C' (common abbreviation).
'be beaten' becomes 'lose' (I've seen this in another clue).
'c'+'lose' is 'CLOSE'.

'in a' is the link.

Can you help me to learn more?

(Other definitions for close that I've seen before include "cul-de-sac" , "Cessation" , "Near - shut" , "stuffy" , "small quiet road" .)

I've seen this clue in the Evening Standard.

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