Street getting older, worthless assembly point (7,4)

I believe the answer is:

staging area

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'assembly point' is the definition.
(I know that staging area is a type of assembly point)

I don't understand the remainder of the clue.

Can you help me to learn more?

(Other definitions for staging area that I've seen before include "Stopping place en route to destination" , "place for getting men together" , "place to break journey" , "Assembly point en route to a destination" .)

I've seen this clue in The Sunday Times and The Times.

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