Place that’s old, of course, periodically visited (5)
I believe the answer is:
locus
'place' is the definition.
('place' in Latin)
'old of course periodically visited' is the wordplay.
'periodically visited' indicates alternate letters.
'old'+'of'+'course'='oldofcourse'
The alternating letters of 'oldofcourse' are 'LOCUS'.
'that's' is the link.
(Other definitions for locus that I've seen before include "Position, point, place" , "Range - place" , "place in court matters" , "Place or set of possible places" , "Spot" .)