Terrace positioned externally ruined fancy entrance (3,6)
I believe the answer is:
red carpet
'fancy entrance' is the definition.
(eg fancy entrance for film stars)
'terrace positioned externally ruined' is the wordplay.
'externally' says to hollow out the word (remove centre letters) (only the external letters are used).
'ruined' indicates anagramming the letters.
'positioned' with its centre removed is 'pd'.
'terrace'+'pd'='terracepd'
'terracepd' anagrammed gives 'RED CARPET'.
(Other definitions for red carpet that I've seen before include "laid down for the elite" , "one under the Queen?" , "special welcome" , "Roll it out for VIP" , "Welcoming walkway" .)