'Rare' Grade II-listed 18th century building on sale for £1.6m
- Credit: Bennett and Co
A towering historical building in the the centre of Norwich designed by a renowned architect is up for sale for £1.6 million.
This is a huge leap from when it was sold 60 years ago - for around a hundredth of the price in 1963 for £16,100.
Ivory House in All Saints Green is currently made up of seven apartments over five floors, which brings in more than £55,000 per annum.
There is existing planning permission to maximise the space and convert it into 12 separate dwellings - with conversion to the basement flat already under way.
Ed Bennett, owner of Bennett and Co - the estate agent marketing the property - said that the Grade II-listed structure is desirable not only for its historical value but its redevelopment opportunities.
He said of what lays behind the three storey building's front door: "It's currently let out and has tenants across seven apartments.
"It has planning permission to maximise the space within the building, moving from seven to 12 apartments but staying in-keeping with the building's traditional features.
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"It's got potential alongside keeping the preservation of the property."
Ivory House was constructed between 1771 and 1772 by Norwich architect Thomas Ivory.
Ivory, a speculative builder and craftsman, was also behind Norwich's Assembly House, Octagon Chapel and Norwich Theatre - now known as Norwich Theatre Royal - as well as St Helens House in Bishopgate and the Tabernacle, a Methodist meeting-house in Bishopsgate Street that was demolished in 1953.
He and his wife Helen are both buried in Norwich Cathedral.
"There are interested parties not wanting to maximise the space available, just wanting to renovate what is already there and restore it to its former glory," Ed added.
"The history of this property definitely makes it desirable.
"It really depends on the type of buyer coming forward."
Ivory House was converted into militia barracks in 1860 and was restored in the early 1970s and converted to an council offices.
It was converted once more into residential apartments in the 1990s.
He continued: "There aren't many of these buildings in Norwich, they're quite rare.
"There are lots more modern blocks of apartments that are popping up everywhere. There aren't many of Norwich's historical buildings that are used as accommodation still."