Ransack place below (7)
I believe the answer is:
plunder
'ransack' is the definition.
(I know that plunder is a action)
'place below' is the wordplay.
'place' becomes 'pl' (abbreviation used in postal addresses).
'below' becomes 'under' (synonyms).
'pl'+'under'='PLUNDER'
(Other definitions for plunder that I've seen before include "Stolen or looted goods" , "Sack - or what might be put in one!" , "Steal goods (in time of war)" , "Pillage" , "Booty" .)