Cold princess with soldier on street (7)
I believe the answer is:
distant
'cold' is the definition.
(similar in meaning)
'princess with soldier on street' is the wordplay.
'princess' becomes 'di' (Princess Diana).
'with' says to put letters next to each other.
'soldier' becomes 'ant' (soldier ant is a type of ant).
'on' means one lot of letters go next to another.
'street' becomes 'st' (abbreviation).
'ant' put after 'st' is 'stant'.
'di' put next to 'stant' is 'DISTANT'.
(Other definitions for distant that I've seen before include "Reserved - a long way off" , "overseas?" , "Far apart in space or time" , "Aloof" , "Absent - coming from a far-away place" .)