Loughwood Farm, an unlisted thatched four-bedroom cottage with panoramic views over the East Devon countryside dates back to the mid 1700s.

The property has been sympathetically renovated and extended by its owners John and Sue Matthews, who bought it in a derelict state in 2003.

Sue Matthews said: "We came to view Loughwood Farm on a bright summer's day and we were immediately struck by the setting and the view. We were taken aback by what was then – a pretty ramshackle cottage in a glorious location.

"Over the last eight years we have put our heart and soul into repairing, renovating and updating the cottage while maintaining its original fittings and features.

"We have extended the cottage from a two to a four bedroom property."

The cottage, which is sold on a National Trust leasehold, maintains its original front windows and front door, magnificent inglenook fireplace and bread oven. It is located in an Area of Outstanding Natural Beauty between Honiton and Axminster.

Loughwood Farm is set in 2.3 acres of land and the accommodation consists of an entrance hall, sitting room, dining room, kitchen/breakfast room, snug, utility room, wet room, four bedrooms, two bath/shower rooms, a workshop and a garden store.

Chris Jarrett, associate at Savills, said: "I was involved in the original sale of Loughwood Farm to the Matthews in 2003 and I can vouch for the state that the house was in when they took possession and it is an absolute pleasure to be favoured with instructions again in 2012.

" The house is truly magical and offers a rare combination of a wonderful rural setting yet a highly accessible location that could well suit a diverse range of purchasers."

Loughwood Farm is for sale at £625,000; call Chris Jarrett or Jan Miller at Savills (01392 455755).