Woolacombe, Devon, EX34

A rare and exciting opportunity to acquire a substantial and distinctive freehold property in the ever-popular coastal village of Woolacombe, Stable Lea is a beautifully converted former mill building offering four spacious and self-contained apartments. Set over four levels and extending to approximately 3,540 square feet, the property presents an ideal purchase for investors, multigenerational families, or anyone seeking a home with income potential in one of North Devon’s most desirable locations.

The building comprises three two-bedroom apartments and one three-bedroom apartment, each accessed independently and benefiting from oil-fired central heating (all four properties run on the same heating system). Externally, there is off-road parking for several vehicles, a shared communal garden area, and a private decked terrace for one of the apartments. Holiday letting is not permitted, ensuring a peaceful residential setting suited for long-term tenancy or full-time occupation.

Flat One occupies the ground floor of the original mill building and is rich in character, with a generous open-plan kitchen, lounge and dining room featuring a striking stone fireplace as its focal point. The two double bedrooms are well-proportioned, and the accommodation is completed by a modern shower room. Flat Two is the most recently modernised of the four and offers two double bedrooms, both with stylish en suite. The layout flows naturally into a bright and contemporary living and dining area, making it ideal for professionals or tenants seeking modern comfort.

Flat Three, arranged over two levels, is a substantial three-bedroom apartment that features a large lounge and dining room, a family bathroom, and a well-equipped, flood-lit kitchen which opens directly onto a private decked terrace — a wonderful space for entertaining or quiet enjoyment of the countryside surroundings. This flat also includes a sizeable loft space, ideal for storage or potential workspace use, subject to relevant permissions.

Flat Four is located on the first floor and offers yet another spacious open-plan lounge, kitchen and dining room, opening onto its own private roof terrace, perfect for enjoying the evening sun. This apartment also benefits from a beautifully finished four-piece bathroom suite, adding a touch of modern luxury to a well-appointed and inviting home.

Situated in a quiet and elevated spot within Woolacombe, the property enjoys easy access to the award-winning beach, stunning coastal walks, and the vibrant village centre, which offers a variety of shops, cafés, pubs and local amenities. Larger towns such as Ilfracombe and Barnstaple are just a short drive away and provide additional services, schools, and transport links.

The Old Mill is a truly unique offering — spacious, flexible and full of charm, with enormous potential for income or family occupation. Its freehold status, generous proportions and prime coastal location make it a compelling prospect for a wide range of buyers looking to secure a long-term asset in one of North Devon’s most sought-after destinations.

Agent Notes: To the rear of the property, an attached room is linked to The Old Mill across the road, for which access is required. The properties cannot be used for holiday letting due to a covenant which will be placed upon the property.