'new prospect' is a correct and usable phrase in written English.
It is usually used to refer to a new opportunity or a fresh outlook on a situation. For example, "The changing market presents us with a new prospect for increasing profits."
England have a new prospect we can relate to and be excited about.
A young man, shaped by a spell at Chelsea, already successful and the most exciting new prospect in Europe.
To which the vendor replies, "Your phone's too old," and quickly turns to a new prospect.
Now that they've got a new musical arm established in CCC, they've just launched another new prospect: Club REZ.
The new prospect of America becoming less American -- less open and accepting, in particular -- is tremendously saddening.
As if to illustrate the gossip economy's depth, Mr. Lewittes has found a new prospect: there's business in making the gossip business look bad.
The new Prospect-Lefferts Gardenservesaurant serves pinsa, an old-timey Roman flatbread.
The price at the new Prospect Heights restaurant is right (everything is under twenty-five dollars).
The name of this new Prospect Heights restaurant implies synonymy with its neighborhood, which, when you are opening up not far from several well-established joints, could easily misfire.
During Rudolph W. Giuliani's years as mayor, the Parks Department has added close to 2,000 acres of parkland, the equivalent of two new Central Parks and one new Prospect Park.
The news of his intended appearance was not well received at the New Prospect Baptist Church in Over-the-Rhine, the hub of the peaceful-protest movement that had coalesced since the riots.
