A historic Grade II listed property dating back to 18th Century is expected to fetch up to £550,000 when it goes under the a hammer.

Suffolk Coastal District Council (SCDC) has put the Old Court House in Woodbridge up for sale.

The three storey building, in the corner of the town’s Market Hill, is being sold at auction on Thursday.

Over the last year or so SCDC has been selling a number of its assets as it looks to trim costs and raise revenue in the face of Government cuts.

Robert Whiting, the district council’s cabinet member for resources, said the Old Court House - which has a guide price of between £450,000 and £550,000 - could be used as a residential property, business premises or care home.

“This is a striking building, in the heart of historic Woodbridge,” he said. “Suffolk Coastal no longer has a use for it, so the money raised from the sale will go towards funding other projects within the district which are in the authority’s capital programme.

“Although we do not need the building, anyone looking at it can see its character and the great potential it has to become a fantastic family home, or continue as a business premises such as a bed and breakfast or a care home again, although any change of use would obviously be subject to acquiring planning permission.”

The Old Court House dates back to 1784 and, as its name suggests, has a link to the local judiciary. It is believed it was used as office accommodation and to house the Coroner’s Office, while the nearby Shire Hall was used as the main courtroom.

More recently, the building has been used as a home for the elderly. It is currently vacant.

Also up for sale at the same auction is a parcel of unused land in Cavendish Road, Trimley St Martin, near Felixstowe.

It has a guide price of £20,000 to £30,000 and the council believes it has “great potential” for development as a building plot subject to obtaining planning permission.

People can view the Old Court House tomorrow between 2pm and 3.30pm, while the auction is taking place at Barnham Broom Golf and Country Club.

For full details on either property contact William H Brown on 01394 380280.