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Thrussington Road, Ratcliffe On The Wreake, Leicester, LE7 4SQ - Image 1
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Thrussington Road, Ratcliffe On The Wreake, Leicester, LE7 4SQ

East Midlands

£1,250,000

Listed on 29/06/2026

Property details

Bedrooms
6
Type
Detached
Area
5000 sqft

Description

Discover an extraordinary opportunity to own a historic Grade II listed former watermill, Rearsby Mill, dating back to 1815 and situated on an expansive 6.19-acre riverside plot. With over 4,400 sq. ft. of living space spread across three levels, the property features six bedrooms—two with en suite facilities—and four versatile reception rooms brimming with character from its rich past. The sizable outbuildings present potential for conversion into secondary accommodation, subject to planning permissions. The current owners have transformed this picturesque setting into a venue for unforgettable events, exemplifying its capacity for both intimate family gatherings and larger celebrations. The expansive grounds are largely underutilized at present, offering remarkable renovation potential. There is scope to develop formal gardens, paddocks for equestrian purposes, or even modern amenities tailored for contemporary living needs. The diverse possibilities reflect not only the property's historical charm but also the imagination of future owners. Step inside through the oak-framed storm porch into a grand reception hall that showcases a stunning gallery landing and a cozy log burner. Each reception room exudes a unique charm; from the character-rich sitting room featuring exposed mill workings and an inglenook fireplace to the inviting snug and elegant dining area perfect for entertaining guests. The kitchen harmoniously blends traditional elements with modern convenience, equipped with granite worktops and an Aga stove, leading seamlessly into a bright breakfast room overlooking the gardens. A utility space and direct access to a double garage round out the ground floor’s practicality. On the first floor, the principal bedroom stands out with its exposed mill features and luxurious en suite bathroom. Additional bedrooms include another en suite option along with two more double rooms sharing a family bathroom. A dedicated study adds flexibility for working from home. The second floor hosts two further double bedrooms offering lovely south-facing views—a fantastic option for older children or guests seeking privacy. Outside, you are welcomed by scenic grounds that include paddocks, stables, vegetable gardens, and serene seating areas by the riverbank. A summer house provides added versatility as a creative workspace or quiet retreat. Outbuildings such as playrooms and storage spaces offer excellent annexe possibilities (STPP). Positioned in Ratcliffe on the Wreake—a delightful village just moments away from vibrant Leicester and Loughborough—this property combines rural tranquility with convenient transport links. Its location near esteemed schools makes it attractive for families looking to settle in a community-oriented area. Ultimately, Rearsby Mill is not just about owning a home; it represents an investment in lifestyle and legacy.

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Investment analysis

(LE7 area)

Below Market Value

This property is priced -18.4% below area average per sq ft

-18.4%
Potential saving
This Property
£250/sq ft
Area Average
£306/sq ft
Avg Rent (weekly)
£252
Avg Yield
3.2%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £300,000
Target Value
£1,684,925
10% above area average per sq ft
Potential ROI
+8.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
58
Average per month
Market Turnover
11%
Properties sold annually

Local Market Trend (LE7)

Area prices are falling by -3.6% over the last 12 months
3 year growth: +2.2%
5 year growth: +6.8%
Investment Disclaimer: Analysis based on LE7 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Thrussington Road, Ratcliffe On The Wreake, Leicester, LE7 4SQ
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Mortgage calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£4,722
Based on a loan of £937,500 over 30 years at 4.45% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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