A 13-bedroom mansion previously owned by the co-founder of Poundland has seen its asking price slashed by £250,000, as the current owners encounter difficulties in finding a buyer.
Property History and Price Reductions
The property, located in Romsley, Worcestershire, was originally purchased in 2004 by Steven Smith, the co-founder of the retail giant Poundland, for £2.2 million. Smith, now 51, and his wife Tracey, 54, invested approximately £4 million in renovating the home before deciding to sell after their three children moved out.
In 2014, Smith listed the house through his own online estate agency at an asking price of £6.5 million. The move was intended to avoid paying commission, saving him an estimated £117,000 in solicitors' fees. However, due to a lack of interest, the price was reduced to £5.75 million. By 2018, the price had been cut further to £3.95 million.
At the time, Smith commented: “We bought the house for £2.2 million in 2002 but we spent probably around £4 million doing it up so we are going to lose money. We have had the house on the market for a while and had three people interested but their chains have broken down so we've put it on the market again. Since the kids have grown up and moved out it's just me and the wife and it's a big place for both of us to live in.”
Sale to Businessman and Further Price Cut
The 103-year-old property, which boasts panoramic countryside views, was eventually sold by Smith to a businessman and his family. However, last year, For Sale signs reappeared, with the new owners seeking offers around £5 million. Now, they have reduced the price by £250,000 in an attempt to sell the historic home, which estate agents describe as an “iconic country residence”.
Architecture and Grounds
The mansion was designed by Sir Bertram Clough Williams-Ellis, the architect responsible for creating the Welsh holiday village Portmeirion, which served as the backdrop for the 1960s television programme The Prisoner. Set on 28 acres in the Severn Valley, the property includes four paddocks, making it ideal for equestrians or woodland walks.
Interior Features
The interior features seven bathrooms, an indoor heated swimming pool, a games room, a private bar, and a drawing room with a dancefloor. The bespoke kitchen includes an AGA cooker, hand-painted by Christians of Nantwich. Additionally, there is an extensive garage, an office block, and a greenhouse.
Gate Lodges Included
Two matching three-bedroom gate lodges are included in the sale. Estate agents Charwell Noble suggest these could serve as staff accommodation, guest houses, or provide rental income.
