Double Periodic Variables (DPV) are among the new enigmas of semi-detached eclipsing binaries. These are intermediate-mass binaries characterized by a long photometric period lasting on average 33 times the orbital period. We present a spectroscopic and photometric study of the DPV V495 Cen based on new high-resolution spectra and the ASAS V-band light curve. We have determined an improved orbital period of $33.492 pm 0.002$ d and a long period of 1283 d. We find a cool evolved star of $M_{2}=0.91pm 0.2 M_{odot}$, $T_{2}= 6000pm 250 K$ and $R_{2}=19.3 pm 0.5 R_{odot}$ and a hot companion of $M_{1}= 5.76pm 0.3 M_{odot}$, $T_{1}=16960pm 400 K$ and $R=4.5pm0.2 R_{odot}$. The mid-type B dwarf is surrounded by a concave and geometrically thick disc, of radial extension $R_{d}= 40.2pm 1.3 R_{odot}$ contributing $sim$ 11 percent to the total luminosity of the system at the V band. The system is seen under inclination $84.!!^{circ}8$ $pm$ $0.!!^{circ}6$ and it is at a distance $d= 2092 pm 104.6$ pc. The light curve analysis suggests that the mass transfer stream impacts the external edge of the disc forming a hot region 11 % hotter than the surrounding disc material. The persistent $V<R$ asymmetry of the H$alpha$ emission suggests the presence of a wind and the detection of a secondary absorption component in He I lines indicates a possible wind origin in the hotspot region.
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