One of Ivor Novello’s most beloved and successful musicals, Perchance to Dream spans three generations of inhabitants of the country house Huntersmoon.
In 1880, Huntersmoon’s first owner, Sir Graham Rodney, is impoverished and living off the charity of his aunt, Lady Charlotte. Meanwhile, Sir Graham's hated cousin William Fayre covets Huntersmoon and wishes to take the house for his own.
To pay his debts, Sir Graham disguises himself to become a highwayman, "Frenchy” and robs a coach but finds that the coach contains Lady Fayre and her ward Melinda. They soon meet at Huntersmoon, and he falls in love with Melinda. He later dies in Melinda's arms, telling her that they will find each other again in another life.
More than three decades later, William's son, Valentine Fayre, owns Huntersmoon. He is a composer to Queen Victoria and marries Veronica Lyddington, the illegitimate daughter of the late Sir Graham and his lover Lydia. Valentine meets Melanie, Sir Graham's niece; they fall in love and plan to run away together, but Veronica reveals that she is pregnant. Valentine is in despair when Melanie commits suicide.
In 1945, Valentine's grandson, Bay Fayre, wins the hand of Melody, the girl who represents the love that he had lost in earlier generations. The romance finally lays the ghosts to rest and all ends happily.