Band close to hand look out retro pieces (10)

I believe the answer is:

watchstrap

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'band' is the definition.
(I know that watchstrap is a type of band)

'look out retro pieces' is the wordplay.
'look out' becomes 'watch' (synonyms).
'retro' shows that the letters should be reversed in order (retro is Latin for 'backwards').
'pieces' becomes 'parts' ('part' can be a synonym of 'piece').
'parts' written backwards gives 'strap'.
'watch'+'strap'='WATCHSTRAP'

'close to hand' is the link.
This may not be correct. Some or all of it may be part of another bit of the clue.

Can you help me to learn more?

(Another definition for watchstrap that I've seen is " Band with time".)

I've seen this clue in The Times.

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