Britain's priciest two-bedroom home is a 'true sanctuary' on one of the country's finest fishing spots

There's no getting away from it: £4.25 million is a lot — a lot — for a three-bedroom house. We ran a quick search and found just a handful of homes this small on sale for this sort of price; most were in central London. Most of the rest came with huge stretches of land. One was right on the water in St Mawes, Cornwall. And then there was this one: Testcombe Cottage, which is for sale with Savills.

In the case of Testcombe Cottage, on the banks of the River Test near the Hampshire town of Stockbridge, you're actually getting a two-bedroom house, plus a collection of outbuildings.

But my goodness, you can see why the asking price is this high. What a house. What a location. And what a collection of outbuildings.

Testcombe Cottage might look like it's been here for centuries, but it's actually relatively new: the main house was constructed about three decades ago, spectacularly located on its own island in the Test. This prime location, right on one of Hampshire’s most celebrated chalkstreams, is land that once formed part of the historic Testcombe estate, owned at one time by the Disraeli family.

The decor and fittings here are beautifully done, with liberal use of exposed beams and brickwork, while tile-hung external walls add plenty more character from the outside.

There are also things you'd rarely find on a true period house, the best example being the balcony at one end of the master bedroom, which has glorious views of the gardens, the river, and the countryside around the place.

As two-bedroom houses go, it's also huge: there's about 2,500 square foot of accommodation over two floors and, it could potentially be made even bigger. The agents notes its ‘excellent potential for extension or redevelopment, subject to the necessary consents’.

All of that brings us to the annexes. One of them is across the exquisite formal gardens, and is set up as a self-contained, one-bedroom home, with bedroom, bathroom and open-plan kitchen/living room. The other, a little smaller, is ideal as an artist's studio.

The highlights, however, are a magical pair of smaller buildings, which — unlike the main house — have been here for nearly 150 years, and are Grade II listed: the fishing hut and the boathouse.

Originally built in 1888 by the Disraelis, the fishing hut is described in its Historic England listing it as 'timber-framed and clad in rustic split logs in herringbone pattern with bark'.

That rather spartan description simply doesn't do justice to how pretty and romantic it is — nor does it make much of the fact that it's on its own separate island, reached via the sort of charming little bridge that looks like Monet should have painted it.

The boathouse, equally, is a dreamy little highlight within the 8.8 acres of gardens on offer. And it's useful, too, for those who wish to get out on the water, rather than just relaxing and enjoying the views, or catching a few trout. Naturally, fishing rights are included: Savills describe them as '641 yards of doublebank main river, providing generous and varied water, complemented by a further 338 yards of carrier, offering quieter, more intimate fishing.'

And if you're worried about sharing these fishing waters with others, you needn't do so: the opposite bank is currently leased by Testcombe Cottage's owners, an arrangement which could continue. As the agents continue, it makes for 'an unmistakably peaceful and private setting, and... a true sanctuary beside this most beautiful chalk stream.'

Testcombe Cottage is for sale through Savills — see more details.