Poundland founder's mansion on market for nearly £8 million - see inside

A stunning mansion bought by the founder of Poundland has gone on the market for almost £8 million. Ludstone Hall was purchased by the late Keith Smith who set up the discount shop empire in the 1990s with his son Steve.

Steve is now selling the sprawling, quirky estate, which is nestled within the picturesque Shropshire countryside in Claverley and is set within 177 acres. The 8,000 sq ft property, which is listed for £7.75 million, comes complete with a moat and even a museum dedicated to Poundland.

It has nine bedrooms, estate offices and a modern leisure complex with an indoor pool which includes a function room, bar and dining area. The manor house also comes with four bedrooms and separately comprises a 19th century Coach House and two bedroom lodge.

Steve said he and his siblings are selling Ludstone Hall in the hope that another family will cherish this historic estate as they did.

He said: "When my parents came back to the UK they wanted to find a home where they would never want to move from, and they certainly found that at Ludstone. My mum and dad really loved their time at the estate which can be seen in the amount of money they invested in the property - it really is the home that Poundland built.

"One particular investment they made was installing the swimming pool. They wanted to have a big party for the millennium so had one with a retractable floor installed so that the room could also be used to host events. We'd also hold charity events and open up the museum to visitors and raise thousands of pounds for local good causes over the years.

"The property holds so much historic significance and has only had a handful of owners since it was built. We're now keen to see the property go to a new family who can make their memories here.

"While the Ludstone Hall Estate section of the museum will remain at the property, we'll also be donating all of the Poundland memorabilia to Poundland so that they can preserve the history of the company."

Keith originally ran a market stall and then went on to found Hooty's Cash and Carry business. When Keith sold the business and moved to Mallorca in 1990, Steve remained in the UK and he and his wife Tracy looked to launch a similar retail operation.

Inspired by his father's stories of the '10p box' on the market, he envisaged selling items for just £1 and, with a £50,000 loan from his father, Steve launched Poundland in 1990. The very first Poundland was opened in the Octagon Shopping Centre, in Burton Upon Trent, Staffs., in December 1990 and took more than £13,000 on its first day. But it was the family's second store at the prestigious Meadowhall Shopping Centre, in Sheffield, which catapulted Poundland's success.

It led to the company opening stores across England with great success. Steve sold Poundland for £50m in 2002. His father Keith returned from Spain to the UK in 1997 and purchased Ludstone Hall for £2.5 million. Their passion for the property led to extensive renovations and the estate's grounds feature a coach house, a two-bedroom lodge, and a unique museum.

While the Ludstone section of the museum features notes of historical importance and artefacts found on the estate, the Poundland area gives a glimpse into the history of the retailer, including the inspiration behind the brand and how it transformed from a single shop to a nationwide chain with more than 850 stores across the UK.

Ludstone Hall dates back to medieval times but the present building was built in around 1607 by the Whitmore family on the original moated site.

The house remained in the possession of the Whitmores for two and a half centuries and was sold in 1867

Keith, who died in 2022 after a short battle with lung cancer, used to regularly open the doors of the mansion and the 'Poundland museum' to raise money for his local church and history group.

Estate agents Peter James Property will be selling the property by private treaty.