Originally, over in New Street finds badge (7)
I believe the answer is:
rosette
'badge' is the definition.
(rosette is a kind of badge)
'originally over in new street' is the wordplay.
'originally' says to take the initial letters.
'in' means one lot of letters goes inside another.
'new' indicates an anagram.
The first letter of 'over' is 'o'.
'street' anagrammed gives 'rsette'.
'o' placed inside 'rsette' is 'ROSETTE'.
'finds' is the link.
(Other definitions for rosette that I've seen before include "Ribboned decoration" , "Prize adornment" , "Ribbon in a cluster as an award" , "Horse show award" , "Equestrian prize" .)