'We thought it would be a good business'

When Martin and Ann Hoad sold their nursing home business 10 years ago, they looked for another venture. "We thought that a holiday letting complex, well run, would be a good business and when we found this derelict farmhouse with lots of outbuildings in one of the most beautiful valleys in east Devon, we decided that this was the place to do it," says Martin.

The farmhouse has been converted into two houses, the hay barn into four units and two cottages have been formed from the stables. There are also nine lodges overlooking three fishing lakes.

The Hoads employ a manager, but remain very involved. Ann does interior design and in mid-June, Martin was up a ladder painting the Dovecote, the latest holiday-home addition to the farm.

"It is a very friendly sort of business. About one in five of our guests has been here before," says Martin.