£7million mansion with Poundland museum is up for sale

A huge mansion formerly owned by the co-founder of Poundland has gone up for sale for more than £7m. Ludstone Hall Estate, located in Shropshire and about five miles from Wolverhampton, was previously owned by Keith Smith, who died in August 2022, aged 79.

Keith and his son Steve founded Poundland with Dave Dodd, opening their first store in Burton-upon-Trent, Staffordshire, in December 1990. Keith’s story has been one of entrepreneurial success, going from operating a stall in Bilston Market to to become a multiple. -millionaire.

Keith, along with his wife Maureen, bought Ludstone Hall Estate for around £2.5m after returning to the UK in 1997 after previously living in Majorca. The couple ended up investing more than the original price in renovating the property, which is located off the B4176, which runs between Wombourne and Bridgnorth.

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The country house and estate boasts 177 acres of land. Built in 1607, the Jacobean mansion has a moat, nine bedrooms, seven bathrooms, four reception rooms, extensive office space and a cellar.

It also includes an indoor pool with a retractable solid floor that lifts up to create a dance floor. Set in 177 acres of grounds are gardens, a two-bedroom cottage and a number of outbuildings, which includes a substantial cottage.

The first floor of the coach house has been converted into a museum covering the history of Ludstone Hall and Poundland. The Ludstone section features notes and artefacts found on the property, while the Poundland section gives an insight into the history of the retailer – which has grown from a single store in Burton to a huge national chain with over 850 stores across the UK.

Keith started life as an apprentice draughtsman at Wellman, Smith & Owen in Walsall, but his entrepreneurial spirit saw him run a stall in Bilston Market, which led to the creation of Hooty’s cash and carry. While Keith sold the business and moved to Mallorca in 1990, his son Steve wanted to stay in the UK with his wife Tracy and wanted to launch his own business.

Keith reminded his son of his popular 10p box at Bilston Market and gave him the idea to sell items for £1. He then gave Steve a £50,000 loan to help launch Poundland, which was co-founded by father and son.

The first Poundland opened in Burton’s Octagon Shopping Center in December 1990. More than £13,000 was taken on the first day.

However, the second store at Sheffield’s Meadowhall Shopping Center catapulted Poundland to success and saw many more stores open across England. Keith and Maureen moved back to the UK in 1997 before purchasing Ludstone Hall Estate.

Five years later, in 2002, Keith and Steve sold Poundland to Advent International for £50m. Keith’s wife Maureen died a few months after him in 2022.

Now Steve and his brothers are selling Ludstone Hall Estate in the hope of another family enjoying it. Steve said: “When my parents came back to the UK they wanted to find a house they would never want to move out of and they certainly found that at Ludstone.

“My mum and dad really enjoyed their time at the property, which can be seen in the amount of money they put into the property – it really is the house that Poundland built. A special investment they made was the installation of the swimming pool.

“They wanted to throw a big party for the millennium, so they installed one with a retractable floor so the hall could also be used to host events. Living there myself, I have some very happy memories of their time here.

“I used to bring the broken sweets that we couldn’t sell to my father and feed them to the cows he kept in the field. The cows were sold to a supermarket chain who said it was the sweetest meat they had ever tasted. .

“We would also hold charity events and open the museum to visitors and have raised thousands of pounds for good local causes over the years. The property has so much historical significance and has only had a handful of owners since it was built. You are now eager to see the property that a new family who can make their own memories here.

“While the Ludstone Hall Estate section of the museum will remain at the property, we will also be donating all Poundland memorabilia so it can preserve the company’s history.”

Ludstone Hall Estate has a guide price of £7,775,000. Another residential investment lot, Manor Fold, comprising a collection of eight houses on the edge of the property, is also available, with details available on request. For more information visit www.fishergerman.co.uk.