Proceeds from eastern location, south of Cromer, ultimately (7)
I believe the answer is:
revenue
'proceeds' is the definition.
(I've seen this in another clue)
'eastern location south of cromer ultimately' is the wordplay.
'eastern' becomes 'e'.
'location' becomes 'venue' (venue is a kind of location).
'south of' says to put letters next to each other (in a down clue, some letters go under others).
'ultimately' suggests the final letters.
The final letter of 'cromer' is 'r'.
'e'+'venue'='evenue'
'evenue' put after 'r' is 'REVENUE'.
'from' is the link.
(Other definitions for revenue that I've seen before include "profit" , "Gross business income" , "Ready" , "Takings" , "Income from tax" .)