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Thrussington Road, Ratcliffe On The Wreake, Leicester LE7

East Midlands

£1,500,000
Listed on 12/09/2025

Property Details

Bedrooms
6
Type
Detached house
Area
4434 sqft

Description

Nestled alongside the serene River Wreake, this Grade II listed former watermill, Rearsby Mill, presents a unique opportunity for those seeking to invest in a property rich in history and character. Originally built in 1815, the mill spans over 4,400 sq. ft. across three levels and is set on an expansive 6.19-acre plot that invites renovation and creative development. The residence features six bedrooms, including two with en suite bathrooms, providing ample space for family living or guest accommodations. The versatile layout includes four reception rooms that showcase original features such as exposed mill workings and traditional fireplaces, creating inviting areas for both relaxation and entertaining. The ground floor begins with a welcoming reception hall leading to a formal sitting room that highlights the property’s historical charm. A cozy snug offers additional intimate space, while the dining room provides an excellent setting for gatherings. The farmhouse-style kitchen, equipped with granite countertops and an Aga cooker, seamlessly blends period detail with modern functionality. Nearby, a breakfast room opens up to views of the picturesque gardens. On the first floor, the principal bedroom stands out with its unique millstone feature and elevated sleeping area overlooking the mill pond. Additional bedrooms include another en suite option and a study that can adapt to various needs. The second floor features two further spacious bedrooms that benefit from south-facing views—ideal for older children or guests. Outside, the property is approached via a sweeping driveway leading to charming grounds comprising paddocks, stables, vegetable patches, and tranquil seating areas by the riverside. A summer house with electricity offers potential as a cozy retreat or productive workspace. Additional outbuildings—including playrooms and storage areas—provide opportunities for conversion into self-contained accommodation (subject to planning permission). Rearsby Mill’s expansive landscapes are not merely functional but offer significant potential for enhancements tailored to modern lifestyles—be it formal gardens or equestrian facilities—making it an ideal canvas for future owners looking to create their family legacy. Located in Ratcliffe on the Wreake, this property benefits from access to essential amenities in nearby villages like Thrussington while maintaining its idyllic rural charm. Excellent transport links ensure that Leicester, Loughborough, and Melton Mowbray are all within easy reach, making it convenient for commuting families. In summary, Rearsby Mill is more than just a residence; it represents an investment opportunity enriched by historical significance and natural beauty—an exceptional find for anyone looking to blend heritage with modern living possibilities.

Investment Analysis

(LE7 area)

Above Market Value

This property is priced +10.0% above area average per sq ft

+10.0%
This Property
£338/sq ft
Area Average
£308/sq ft
Avg Rent (weekly)
£243
Avg Yield
3.0%

Renovation Potential

Est. Renovation Cost
£150,000 - £375,000
10-25% of property value
Target Value
£1,500,288
10% above area average per sq ft
Potential ROI
-20.0%
After renovation
Monthly Sales
53
Average per month
Market Turnover
34%
Properties sold annually

Local Market Trend (LE7)

Area prices are falling by +2.9% over the last 12 months
3 year growth: 6.6%
5 year growth: 14.4%
Investment Disclaimer: Analysis based on LE7 area averages and may not reflect property-specific factors like condition, exact location, or unique features. 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
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