Friday, January 15, 2021

In For A Penny…

Poundland founders slash asking price for their gaudy Shropshire mansion by 39%

 

As with many classic rags to riches tale, good taste doesn’t necessarily follow. Proof of such is provided in the somewhat over-the-top home bought by two of the founders of discount chainstore Poundland in the wake of their sale of that business for £50 million in 2002.

 

Steve and Tracy Smith built up Poundland from a market stall in the West Midlands to an empire employing 6,000 staff and with their fortune, they indulged in a Lamborghini – of which Mrs Smith later remarked: “That car! It used to drive me mad, that big silly thing sitting out there. I was always on at him to get rid of it. In the end, he sold it for less than he paid for it… I think he just wanted to shut me up. – and amongst other things purchased a Shropshire mansion originally designed by the acclaimed Portmeirion architect Sir Clough Williams-Ellis, CBE MC (1883 – 1973).

 

In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.
Steve and Tracy Smith “at home”

 

Standing on a plot of 28.23 acres and featuring 14,690 square foot in its main house, “deluxe” Hammer Hill House currently provides 5 reception rooms, a full-scale bar, 6 bedrooms, 7 bathrooms and an indoor swimming pool. In addition, there are two 3-bedroom gate lodges and a large garage and office block.

 

Decorated in a style that plainly reflects Mr and Mrs Smith’s exuberant personalities, there are, naturally, oversized wrought iron gates at the entrance and immodesty continues within. There is a BOSE surround system, an Adapt control system operating doors and specialist lighting and 60 “blinging horror” crystal chandeliers. A ‘HHH’ (meaning: “Hammer Hill House”) logo is emblazoned on many details and a Smith family crest hangs on the stairs; there’s a sprung dance floor and a full-size snooker table and a helipad and a 5-foot tall dancing hippo.

 

Previously marketed privately, as Mr Smith believed estate agents to be a waste of money, Hammer Hill House is now for sale for £3.95 million through Knight Frank. Of the estate, though Country Life magazine concluded: “It might be a bit ritzy for the Duke and Duchess of Cambridge”, the selling agents remark: “It’s impressive and well equipped”.

 

Hammer Hill House, Romsley, Bridgnorth, Shropshire – The numbers

 

Steve and Tracy Smith sell their shares in Poundland for £50 million in 2002 (the equivalent of £74.6 million, $94.8 million, €84.7 million or درهم348.4 million today). They give half of that sum to Mr Smith’s parents.

 

The couple then paid £2.2 million for Hammer Hill House in 2004 (the equivalent of £3.3 million, $4.2 million, €3.7 million or درهم15.3 million today) and spent vast sums expanding and personalising the property.

 

They put the estate up for sale for £6.5 million in 2014 privately ($8.3 million, €7.4 million or درهم30.6 million).

 

In June 2017, they relist the property for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank.

 

In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently. In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently. In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently. In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently. In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently. In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently. In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently. In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.In For A Penny… Hammer Hill House, Romsley Lane, Romsley, Bridgnorth, Shropshire, WV15 6HW, United Kingdom – For sale for £3.95 million ($5 million, €4.5 million or درهم18.4 million) with agents Knight Frank. Owned by Poundland founders Steve and Tracy Smith currently.

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7 COMMENTS

  1. What’s wrong with flashing cash if you’ve got it???????? WTF is wrong with you people??????? I don’t like the exterior but the interview has got fun in spades written all over it!!!!!!!!!!!!!!!! No wrecking ball required!!!!!!!!!!!!! He should have kept the Lambo though!!!!!!!!!!!!!!!

  2. Gross!

    The outside is stunning, but the interior…
    So Rod but your eyes are on a different frequency to everyone else I think.

    Dan

  3. I am waiting for Yolanda, our ‘property professional’ to give a view.
    Never forget this.
    When Chatsworth was built the then duke had Cavendish painted on it. In their day, the Cavendish family were considered quite parvenu and arriviste.

    • Well here I am Peter and as a property professional, I’d suggest the ask price is still too high. I can see this selling at around £3.2 million but a buyer will have to invest such considerable sums in decluttering the disastrous “renovation” that I’d be left asking: Is it worth bothering?

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