A well-known Ipswich Inn, called "The Assumption," was doubtless a favorite house,especially among strangers visiting the town under such Circumstances. It may have been in some way connected with the Chapel of "our Ladye of Grace," and in all probability stood not far from the building. All we know for certain is that the Inn stood in the town itself, but seeing that it was expressly provided by an act of the Great Court, that no building should be raised within some distance from the Chapel, it may be reasonably supposed that the Inn was at least not in close proximity.C H Evelyn White, 1888 paper for the Suffolk Institute of Archaeology and Natural History

White also tells us that it was recorded as far back as 1528.

The location is unknown, but White suggests it may have been near the Chapel of "our Ladye of Grace". As far as can be ascertained, this chapel was probably somewhere in the area of Lady Lane.