I'd recommend your favorite greens and your favorite blues.

Ooooh, what a lovely space. Congrats! I second Miami's Elaine's recommendation. Check out this collection of Heath vases: https://www.canoeonline.net/shop/inspect/heath-bud-vase
A color palette of pretty natural hues will perfectly complement that woody wonderfulness.

I say stick with greys, it would really bring out the richness of the wood. I would also put some pops of creamy mid century mod bold colors in the textiles and art. It is a beautiful home!

Also, instead of painting over the top beams, perhaps you could strip the paint instead? It's hard work but may be worth it. I agree with 50schica's suggestion that grays and creams would work well, especially if you have a lot of art and prefer neutral walls. I love color though.

I would go with white walls, but then again, I'm partial to white walls in the main living spaces and brighter/bolder colors in the smaller rooms.

I agree with the greys and creams. Greys if you want that more modern look. But DON'T paint the beams or even remove the red and green paint, unless there is just way too much of it. It adds character to that already fantastic space. I would recommend actually highlighting the red OR green (not both please) with pops of color through art and accessories throughout the room.

greyish blue or a weathered green would be pretty. and leave the beams as-is.

Maybe painting the brick? That might help reduce the rustic feel, if that's what you'd like to do.

Gray and cream would be lovely--but a cool gray rather than warm will bring out the wood and brick best. You could also go with a watery paler blue--not too intensely pigmented--which would also contrast nicely with the wood. I would be careful with green, since green can be tricky and the wrong green can make everyone look sickly. If you can remove the red and green paint from the beams, do. Otherwise, see how it looks once the walls are repainted and decide if you want to pain the beams (preferably in a neutral hue that will blend with the rest of the wood). Absolutely gorgeous space. Congratulations on your new home.

I think a muted blue with a lot of grey would be lovely. You could go with something a few shades lighter on the same chip for the white portions of the ceiling. It will play off the wood, brick, and warm color of your couch.

Also, in the "other advice" column - I would pull the furniture out into the room, and add a rug with both the warm and cool colors to anchor the arrangement.

Good luck - your home is beautiful!

Enough already. NO. MORE. GREY. or GRAY. Muddy, taupey green, or muddy taupe. Stay away from true yellows as you see from your current paint color that it's too stark. If you intend to keep the orangey sofa, I'd recommend the beige-to-gold-to-amber color spectrum because anything green would make the sofa stick out like a sore thumb.

Overall, the less contrast you have between wall/floor/ceiling colors in the room, the more calm. The greater the contrast...the more tricky the situation.

What a great space, and congratulations on securing a property in London - that's not easy, even in the current market.

To business! At the risk of swimming against the tide here, I would paint all the bare wood except the floor white. That much pine (I assume) is bordering on sauna territory.

Regarding colours on the wall, if you want a neutral, I would go for a cool greyish cream, a sort of portland stone colour, which would knock back the brick a bit, with white ceiling and trim. Otherwise, the colour of your choice, but I think a mid-tone bluey-green would be my choice.

I think a light gray-brown would be lovely. Benjamin Moore Marble Canyon or something like it. I don't think the wall color should be much darker than that or it will compete with the brick. Marble Canyon would work with most decors.

Cream and wood is one of the most beautiful styles I've seen. Grand Designs series 10 episode 4 ("The Barn & Guildhall") has a great example of this style. The cream allows the beautiful old wood to pop. Then add colour like bright greens with draperies and soft furnishings.

We have an adobe (mud brick) house with lots of wood everywhere. The first thing we did was have all the wood sandblasted. I love the effect, but be warned - it is messy and sand will get everywhere! I would go with a creamy white on the walls to provide lots of contrast to the wood and lighten things up, and add accent colors with art and accessories. Here is a picture to give you an idea of what we did - ignore the mess, as it is mid-kitchen renovation.

http://www.flickr.com/photos/13117587@N06/4844996509/in/set-72157607019721017

BM Deep River, as seen here:

http://www.apartmenttherapy.com/la/room-for-color-2009/jessicas-mostly-neutrals-room-for-color-west-16-098179

If you want neutral - gray, if you want color - green, maybe a jade green since that color is everywhere right now.

Love the space. I'd consider painting the brick, maybe white, and to match the walls (or my personal favorite, a light gray-blue). I think the wood+brick combination is a bit overwhelming, and between the 2, wood wins.

A blue grey would look amazing!

And PLEASE don't paint the brick!! That's the best part of that room!!

I would recommend choosing the lighest brick color to replace the yellow walls. Rather than paint the beams, I would remove as much of the red and green paint as possible, even if you have to have someone come in and plane it off. Then stain to duplicate the old finish as much as possible.

Painting the brick would be a design transgression of large degree. The brick and beams are the beautiful bones of your new home.

I think I would combine Abigail C's and KittyAtlanta's thinking: I'd choose a very pale shade from the brick, for the wall, but I would paint the beams -- and possibly the railings -- the same color. This room seems very dark to me. However, there is every possibility that just painting the wall a coordinating color like Kitty suggested, along with well-chosen furniture and accessories will lighten it up. The floors are absolutely beautiful.

i'd go with dhw's suggestion of white -- let the wood be the colour in the room although i think the coloured beams are kinda funky. and imo the orange on that couch is not working with the wood and the brick, too many competing shades of reds/oranges. but i do like that couch!

Ohmygoodness I am green with envy that you have a house in London. I would live there in a heartbeat! As for house colors - look at Farrow and Ball's website, I looooove most of their muted tones, and they're great in historic homes. The right warm gray or taupe or cream would make the wood shine. Obviously it's going to depend on what furniture you plan to put in, though! Those plank floors are to die for!

WHATEVER YOU DO, do NOT paint that brick! This is not a 1980s cookie-cutter development home, it's a historic house. You just can't paint it. Agh.

But go ahead and paint the beams, I highly doubt those are original colors. At the very least I would strip and stain them to match the railings.

Maybe you could consider a wallpaper that has the clean lines you are looking for. Get some samples & see what looks good with the brick and those fantastic floors.