A disused gym on Lower Orwell Street in Ipswich with just under half an acre of land is up for auction in Ipswich.
The former Gym and Trim Health Club has been listed with Auction House, with a guide price of £875,000-£925,000.
While the site has been redundant for some years, it received planning permission for the construction of 124 student rooms in 2011.
This has now lapsed, but the estate agent Auction House said that an application for a good number of traditional apartments may be successful.
Interested parties have been advised to make their own inquiries with Ipswich Borough Council.
Regional manager for Auction House East Anglia Mark Willet said: "This site having had planning historically, suggests that it offers great potential for perhaps an alternative scheme to the one that was originally applied for.
"I am sure there will be a decent number of active developers who will consider this going forward."
Auction House's website reads: "Situated in the very heart of town is this former health club standing in grounds approaching 0.4 acres."
"Town centre development opportunities of this magnitude rarely present themselves and with the current buoyancy of the market this lot is sure to generate considerable interest."
The auction will be held at 11am on Wednesday, March 23 online at Auctionhouse.co.uk.
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