Categories: OPULENCE & SPLENDOUR

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).

 

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.

 

View Comments

  • 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!!!!!!!!!!!!!!!

  • Gross!

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

    Dan

  • 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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