Hideous new build generates capital ... (6)
I believe the answer is:
dublin
'capital' is the definition.
(Dublin is an example)
'hideous new build' is the wordplay.
'hideous' indicates an anagram (I've seen this in other clues).
'new' becomes 'n'.
'n'+'build'='nbuild'
'nbuild' with letters rearranged gives 'DUBLIN'.
'generates' acts as a link.
(Other definitions for dublin that I've seen before include "Irish capital city" , "Ulysses city (Joyce)" , "Capital of 8" , "City of 1 across" , "Capital of Eire" .)