Former Foresters’ hall in Debenham to be auctioned – possibly to become flats
PUBLISHED: 14:44 20 June 2017 | UPDATED: 14:44 20 June 2017
One of the most distinctive buildings in Debenham is set to go under the hammer next week.
The Grade II listed property in High Street was previously owned by the Ancient Order of Foresters as a meeting hall and is currently used as showrooms and offices with a large two-bedroom flat upstairs.
Richard Reed, head of property at John Pye Property Auctions, said: “This neo-classical building is very striking in its appearance and offers a great investment opportunity for developers with a guide price of £395,000 to £415,000.
“This property lends itself to a developer who could revitalise the building into high end residential accommodation. We estimate that with the necessary planning permissions being obtained the gross development value of the property would be in the region of £1.4 million, based on six to seven two-bedroom flats finished to a good specification internally.
“We would expect that each flat would be worth in the region of £200,000 upon completion.”
The building, which could be converted for a range of uses, has been a feature of the village centre since 1905. It will be auctioned by John Pye Property Auctions on June 28 and 29 as part of an auction of 47 property lots nationwide worth £7.5 million.