Not the place for old wine (7)

I believe the answer is:

newport

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'not the place' is the definition.
I can't tell whether this defines the answer.

'old wine' is the wordplay.
'old' becomes 'new' (I can't justify this - if you can you should believe this answer much more).
'wine' becomes 'port' (port is a kind of wine).
'new'+'port'='NEWPORT'

'for' acts as a link.

Can you help me to learn more?

(Other definitions for newport that I've seen before include "City of southeast Wales" , "Welsh town" , "- - , IOW or RI" , "Major IOW town" , "There's one in Mayo, Wales and New England" .)

I've seen this clue in the Evening Standard.

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