Coast remodelled for racing venue (5)
I believe the answer is:
ascot
'racing venue' is the definition.
(English race course)
'coast remodelled' is the wordplay.
'remodelled' indicates anagramming the letters.
'coast' with letters rearranged gives 'ASCOT'.
'for' acts as a link.
(Other definitions for ascot that I've seen before include "Type of necktie" , "where some of our betters may be" , "somewhere in Berks" , "Horse-racing venue" , "Tie round the neck" .)