The village was mentioned in Domesday Book as “Sbermestun”. The village developed round the Norman manor now represented by Osbaston Hall. The manor later had several owners including Sir Thomas Pope Bloun,t who is considered responsible for the demolition and reconstruction of the manor house. Furthermore, all the buildings of the village were rebuilt before the 19th century.
Osbaston Hall is a privately owned 18th-century country house. It is a Grade II* listed building.
The oldest fabric of the house dates from the late 16th or early 17th century. The old manor house was rebuilt in about 1720 by Wrightson Mundy (High Sheriff of Derbyshire and Member of Parliament for Leicester in 1737).
The lake or west front is in three distinct blocks, each of three bays. The house was the home of the poet Francis Noel Clarke Mundy in 1739.
In recent years, new housing estates which run into the neighbouring village of Barlestone have been built east of the former Osbaston Toll Gate, notably a dental practice and a convenience store.
Dental practice and convenience store
A small settlement identified as “Osbaston Hollow” has been formed south of Nailstone. Both landmarks lie on the A447 road.
There are several farms located in and around the village, notably Osbaston House Farm, a 250-acre (1.0 km2) goat farm which dates back to 1908 situated on the edge of the National Forest and recently opened is a farm shop at Gnarley Farm, selling home produce. A dental practice and a corner shop are located in the area around the former Osbaston Tollgate in which borders the neighbouring village of Barlestone. There is also a public house, The Gate Inn, situated in Osbaston Hollow.