Building housing oddly ugly animal (7)

I believe the answer is:

bullock

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'animal' is the definition.
The answer is an example.

'building housing oddly ugly' is the wordplay.
'building' becomes 'block' (I am not sure about this - if you are sure you should believe this answer much more).
'housing' indicates putting letters inside.
'oddly' means one should take alternating letters (letters in the odd-numbered positions are used).
The alternating letters of 'ugly' are 'ul'.
'block' enclosing 'ul' is 'BULLOCK'.

Can you help me to learn more?

(Other definitions for bullock that I've seen before include "Male raised for beef" , "Castrated bovine male" , "Ox or steer" , "Young male ox" .)

I've seen this clue in The Independent.

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