I was searching for the Medieval English MALE name Aldred. I couldn't find it, but Aldreda means the same thing. Either Aldreda comes from Aldred or Aldred comes from Aldreda.
The main character in Angela Brazil's novel A Fourth Form Friendship (one of the prototypical school stories for girls from the early 20th century) is named Aldred Laurence. Presumably her name is a form of Aldreda.
To me, this name sounds rather unusual, but I think quite quirky. This name sounds to me as if it's a combination of Audrey and Alfreda, even though I don't think it's related to the name Alfreda at all; that's what I thought as soon as I saw it. But nevertheless, it could be a nice name on the right person. :)