  V341 Ara was recently recognised as one of the closest (d ~ 150 pc) and
brightest (V~ 10) nova-like cataclysmic variables. This unique system is
surrounded by a bright emission nebula, likely to be the remnant of a recent
nova eruption. Embedded within this nebula is a prominent bow-shock, where the
system's accretion disc wind runs into its own nova shell. In order to
establish its fundamental properties, we present the first comprehensive
multi-wavelength study of the system. Long-term photometry reveals
quasi-periodic, super-orbital variations with a characteristic time-scale of
10-16 days and typical amplitude of ~1 mag. High-cadence photometry from TESS
reveals for the first time both the orbital period and a "negative superhump"
period. The latter is usually interpreted as the signature of a tilted
accretion disc. We propose a recently developed disc instability model as a
plausible explanation for the photometric behaviour. In our spectroscopic data,
we clearly detect anti-phased absorption and emission line components. Their
radial velocities suggest a high mass ratio, which in turn implies an unusually
low white dwarf mass. We also constrain the wind mass-loss rate of the system
from the spatially resolved [O iii] emission produced in the bow-shock; this
can be used to test and calibrate accretion disc wind models. We suggest a
possible association between V341 Ara and a "guest star" mentioned in Chinese
historical records in AD1240. If this marks the date of the system's nova
eruption, V341 Ara would be the oldest recovered nova of its class and an
excellent laboratory for testing nova theory.
