Newly constructed ride is horrible (4)

I believe the answer is:

dire

I'm a little stuck... Click here to teach me more about this clue!

'horrible' is the definition.
(I've seen this in another clue)

'newly constructed ride' is the wordplay.
'ride' anagrams to 'DIRE'.
However, I'm not clear how this is indicated.

'is' acts as a link.

Can you help me to learn more?

(Other definitions for dire that I've seen before include "Cataclysmic" , "Really dreadful - ride on" , "'Dreadful, terrible (4)'" , "Desperate, horrendous" , "Nearly hopeless" .)

I've seen this clue in The Irish Times.

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