3-bedroom detached house · EX34 8LN
For saleListed 31 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Tucked discreetly away amongst the trees and positioned beside a gently flowing stream, the property has an almost storybook quality.
Despite its wonderfully secluded setting, Riversmeet remains within easy reach of Lee Bay and the village, offering the rare combination of privacy, character and proximity to the North Devon coastline.
Over recent years, the property has undergone an extensive and sympathetic transformation, with considerable care taken to preserve its character while introducing a high level of comfort and practicality for modern living.
Improvements have included a new roof and new double-glazed windows, alongside a comprehensive programme of internal and external works.
Inside, the cottage is warm, characterful and full of personality. Original flooring has been carefully restored, while a solid parquet floor has been introduced within the principal living area.
Handmade internal doors, fitted bookcases, bespoke wardrobes and thoughtfully chosen lighting add further individuality throughout.
The kitchen has also been enhanced with new slate flooring and underfloor heating, creating a practical yet sympathetic finish in keeping with the age and style of the house.
A recently installed electric central heating system complements the wood-burning stoves, helping to make Riversmeet an inviting home throughout the seasons.
The accommodation has been further improved by the creation of a useful utility room from a former storeroom, now incorporating a washing machine and WC.
The bathroom has been completely redesigned and now provides a particularly stylish space with a freestanding bath and generous walk-in shower.
Externally, the transformation has been equally impressive.
Formerly steep and difficult-to-access areas of the garden have been carefully landscaped, with new steps and pathways introduced to create a series of usable and attractive spaces throughout the grounds.
Outdoor entertaining is one of the defining features of Riversmeet.
A covered outdoor kitchen incorporates a pizza oven and double barbecue, complemented by a dedicated entertaining terrace, fire pit and small amphitheatre-style seating area.
Closer to the water, a streamside deck provides a wonderfully peaceful place to sit and enjoy the surroundings. A separate summer house or studio provides further flexibility.
Newly constructed, insulated, double glazed and supplied with electricity, it occupies a raised patio setting within the grounds and could serve as an excellent home office, studio, hobby room or occasional additional sleeping space.
The grounds extend to approximately three-quarters of an acre and incorporate established woodland, landscaped gardens and the stream itself, creating an environment that feels wonderfully removed from everyday life.
Off-street parking adds an important practical advantage. Riversmeet Mill is currently operated as a successful holiday let, underlining the strength of its lifestyle appeal and its enviable location.
Equally, it would make an exceptional permanent family home, second residence or private coastal retreat.
Just a short stroll away lies the picturesque village of Lee, with its welcoming local pub and secluded bay, while the wider North Devon coastline is within easy reach.
Lee Bay is a picturesque and peaceful coastal village, known for its secluded cove, dramatic scenery and direct access to the South West Coast Path.
Set between Ilfracombe and Woolacombe, it offers a rare combination of tranquillity, character and convenience.
Rarely does a property combine such genuine seclusion, historic character, thoughtfully executed improvements and proximity to the coast.
Riversmeet Mill is a truly distinctive home offering an exceptional way of life in one of North Devon’s most captivating coastal settings.
EPC: TBH Council Tax: E Utilities and Services: Septic tank drainage. Electric heating. Mains water and mains electric.
We encourage you to check before viewing a property the potential broadband speeds and mobile signal coverage.
You can do so by visiting From the Mullacott Cross roundabout, with Braunton behind, take the turning towards Woolacombe and Mortehoe.
After approximately 1.5 miles, turn right where signposted Lee/Lincombe. Follow this lane and at the next junction turn left towards Lee village.
Continue down the hill, and the property will be found after approximately three-quarters of a mile, take a left hand turning into a lane that bears right.
Proceed up the lane and Riversmeet will be situated on the left hand side.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About Lee, Ilfracombe, Devon, EX34
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