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Membury, Axminster, Devon

South West

£595,000

Listed on 04/09/2026

The listing

Property details

Bedrooms
3
Type
Detached
Area
1713 sqft

Description

Nestled in a tranquil rural setting, this Grade II listed thatched cottage, known as Nightlands, offers a unique opportunity for those seeking charm and character. Set within approximately 1.17 acres of gardens and grounds, the property boasts stunning views over the East Devon countryside and is available with no onward chain. Dating back to the 17th Century, this individual residence features colour washed stone elevations and was extended in the 1980s. Recent improvements include the replacement of two-thirds of the thatched roof in 2025, ensuring the property is well-maintained. The accommodation is spread across three levels, with many principal rooms enjoying a southerly aspect, perfect for soaking in the picturesque surroundings. Internally, the cottage comprises a spacious reception room with exposed beams and an inglenook fireplace, a sizeable kitchen/dining area equipped with an oil-fired Rayburn, and three double bedrooms. A study and utility room with WC add to the practicality of the space. Externally, access is via a private right of way leading to a parking area and a dilapidated garage. The expansive lawn is bordered by established shrubs and tree-lined banks, creating a serene environment. A large paved terrace provides an ideal spot for outdoor enjoyment while taking in the stunning views. Located in the peaceful hamlet of Hill Common, Nightlands is just a short distance from local amenities in Axminster and is well-placed for exploring the beautiful Jurassic coastline. This property presents an exciting opportunity for modernisation and improvement, allowing new owners to put their personal stamp on a historic home.

WHOTS analysis

Our WHOTS verdict

An internal assessment of the opportunity to acquire, improve and create value.

43out of 100
Grade ELow opportunity

Confidence: MEDIUM

Nightlands is a unique Grade II listed thatched cottage with a charming character, set in a tranquil rural environment. The property, which has been in the same ownership for 40 years, features stunning views over the Yarty Valley and benefits from no onward chain, adding to its appeal for potential buyers. However, the asking price of £595,000 translates to £347 per square foot, which is 11.8% above the local average of £311 per square foot, creating a limited price/value ratio. When considering the renovation range of £40,000 to £80,000, the total investment could stretch to £655,000, which is significantly above the implied local value of £532,229 for a property of this size, indicating weak economics for this project.

The interior presents a canvas for modernisation, with dated living areas and bedrooms that require updating to bring them in line with contemporary expectations. Although the kitchen is functional, it too is in need of a refresh. The garden offers potential for landscaping, making the outdoor space an exciting project opportunity. The recently replaced thatched roof adds some peace of mind regarding maintenance, but the overall renovation needs to be carefully considered given the stretched budget versus local benchmarks for similar properties.

Key opportunities

  • Unique Grade II listed character with potential for modernisation
  • Expansive gardens with landscaping potential
  • Recently replaced thatched roof provides maintenance reassurance

Key risks

  • All-in costs could exceed local value benchmarks, impacting return on investment

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Map

Location

Membury, Axminster, Devon
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Finance

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Illustrative repayments based on the asking price, not a mortgage offer.

£
£
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years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£2,248
Based on a loan of £446,250 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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