Michael Rogers, a wistful and aimless young aspiring photographer who works as a chauffeur and lives with his mother in London, is played by Hywel Bennett. Coming from a working-class background, he longs for a life of luxury and immersion in the fine arts, and his imagination often carries him beyond his present circumstances, painting grand possibilities where there are only ordinary days.
While photographing the Devon coast, he discovers Gypsy's Acre, a dilapidated Victorian mansion perched on the shore. The land fires up his dreams of one day building a new home there, a project he envisions with the help of Santonix, a famed Italian architect whom he met earlier through a client, and who becomes the beacon for his grand design Per Oscarsson.
On this scenic backdrop, Michael meets Ellie Thomsen, a bright American visitor who is quickly drawn to his romantic, unlikely fantasies. Ellie Thomsen, Hayley Mills, is captivated by his charm and eccentric ambition, and what begins as a shared daydream begins to shape a life they might one day share.
As their bond deepens, Ellie departs England with Greta, her German language tutor who has taken on the role of a personal assistant. Greta, Britt Ekland, travels with Ellie through Switzerland and Italy, a journey that reveals Ellie’s true financial standing and the extent of her plans. When Ellie returns, she confesses she never intended to reveal the full scope of her wealth or her arrangements, explaining that she did not tell Michael to avoid scaring him away. She also reveals that she used the time abroad to secure a meeting with Santonix and to purchase Gypsy's Acre.
The couple eventually marry in Wales, a move that shocks the family and makes international headlines. Ellie tries to keep the marriage quiet because she fears her stepmother, Cora, and other relatives might pressure Michael to divorce her based on social class. The family’s attorney, George Sanders, Andrew Lippincott, quickly tries to buy Michael off, but he refuses, insisting that love transcends class. The newlyweds then set up a new life by purchasing a local antique shop to run together.
As construction begins on their dreamed‑home, Greta arrives in London and begins to infiltrate the couple’s life more deeply. Ellie welcomes Greta’s presence, while Michael grows wary of her influence. Miss Townsend, the enigmatic old woman who first warned Michael about the land, remains a looming presence, staring from the fields below as the couple’s world slowly tightens around them.
Tragedy strikes when Ellie goes missing during a ride, and her body is later found in the woods on Gypsy's Acre. An autopsy suggests a sudden cardiac arrest, but Michael challenges the conclusion, suspecting foul play. The trail grows colder as the police search for Miss Townsend, who appears elusive. After the inquest, Andrew informs Michael that Ellie named him as the sole beneficiary of her estate and urges Michael to travel to the United States to manage the business interests there. Santonix, meanwhile, dies after a protracted battle with cancer.
When Michael returns to Gypsy's Acre from the United States, he catches a glimpse of Ellie’s apparition as he nears the house. He and Greta eventually share a clandestine affair, having conspired to strip Ellie of her wealth. Their plan unravels when a New York–postmarked envelope arrives, containing date-stamped photographs that prove they had been together long before Michael ever met Ellie. Confronted with this evidence, Michael lashes out and kills Greta by the swimming pool. The act unlocks a chilling childhood memory of killing a schoolmate by pushing him into a frozen pond and taking his watch as a keepsake.
Questioned by police and Dr. Philpott, a local psychologist played by Aubrey Richards, Michael concedes to helping murder Ellie. He is grilled about Miss Townsend, whom he insists never existed, and as the questioning deepens, he descends into a furious, haunted panic, a nervous breakdown that leaves him grappling with the weight of the memories he can’t outrun.
