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PRIVACY
Economic Development

Poundland founder's home on market for £5.75m

Steve Smith's home near Kidderminster has seven bedrooms in 28 acres but the asking price has been slashed by £750,000

Midland-based discount chain Poundland has been rapped by the advertising watchdog - but founder Steve Smith is still laughing all the way to the bank.

The 51-year-old, who started his career on his parents' market stall in Bilston, hopes to sell his sprawling mansion for an eye-watering £5.75 million.

The tycoon can even afford to cut the asking price by a cool £750,000 from the £6.5 million it was advertised for late last year.

Mr Smith said last July he had spent three or four years refurbishing the seven-bedroom home, set in 28 acres, after buying it for £2.2 million a decade ago.

"We have llamas - they're cheaper than lawnmowers," he said.

Mr Smith's Hammer Hill House, between Kidderminster and Bridgnorth in Shropshire, is being advertised on property website Rightmove.

Originally designed in 1923 by Sir Bertram Clough Williams-Ellis, who created the famous Portmeirion attraction in North Wales, it also boasts five reception rooms, a bespoke kitchen/breakfast room, an indoor pool complex and two gatehouse lodges.

Rightmove said the property "offers the ultimate in luxury living, having an exceptional level of high specification throughout".