Building soon fit to cover grand foundations (8)

I believe the answer is:

footings

'foundations' is the definition.
(footing is a kind of foundation)

'building soon fit to cover grand' is the wordplay.
'building' indicates an anagram.
'to cover' means one lot of letters goes inside another.
'grand' becomes 'g' ('G' can be a synonym of 'grand').
'soon'+'fit'='soonfit'
'soonfit' anagrammed gives 'footins'.
'footins' going around 'g' is 'FOOTINGS'.

I've seen this clue in The Independent.

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