Poundland founder Keith Smith left £38million fortune including a nine-bedroom £8million mansion to his wife, son and siblings when he died of lung cancer - only for his spouse to pass away two months later
Poundland founder Keith Smith left his £38million fortune including a stunning manor house to his family when he died of lung cancer - only for his wife to pass away two months later.
The 79-year-old, who launched the Poundland empire in 1990, lived in the nine-bed Ludstone Hall with his wife Maureen, which is now up for sale for £8million.
Mr Smith died of lung cancer two years ago after a short battle with cancer.
He left his estate in trust to his wife Maureen, as well as discretionary benefits to his son Steve, siblings Mandy and Sean, and charities. But sadly, his wife died just two months later.
The refurbished Jacobean mansion in Claverley, Shropshire has its own swimming pool and even features a museum dedicated to the budget chain.
Mr Smith's son Steve and his siblings are now selling his late father's beloved home for £7.75million.
Poundland's co-founders Steve and Keith Smith (right) pictured together
Keith Smith pictured with his wife Maureen
Ludstone Hall in Claverley, Shropshire has nine bedrooms and a museum dedicated to Poundland
The Poundland museum which is located inside Ludstone Hall
One of the dining rooms in Ludstone Hall which was owned by co-founder of Poundland Keith Smith
Keith Smith, who grew up in nearby Willenhall, left school at 16 to become an apprentice draughtsman before going on to run a market stall and the Hooty's cash & carry in Willenhall, Walsall.
Mr Smith launched the discount chain in 1990 with his son Steve and together they grew the enterprise to over 70 stores before selling it for £50million in 2002.
He bought Ludstone Hall in 1997 with his Poundland profits and left a fortune of £38million when he passed away, The Sun reported.
Ludstone Hall dates back to Medieval times but the current property was built in 1607 for the Whitmore family. The estate stayed in the family until 1867 and has only had a handful of owners since.
The manor has period features such as mullioned windows, panelled reception hall, stone fireplaces and the remarkable survival of the original lead rainwater goods.
The home is now on the market for £7.75million
Steve Smith (pictured) at the moated manor home which his parents bought in 1997
The swimming pool located inside the manor home in Shropshire
Steve Smith (pictured) outside his parents' home in Claverley, Shropshire
The main house has over 8,000 sq ft of accommodation including four reception rooms, nine bedrooms, seven bathrooms and extensive cellars.
A leisure complex at the rear includes the swimming pool with retractable floor, a handmade oak bar, separate dining area and a hot tub under a raised platform.
There is a two-bedroom gate lodge on the grounds and a number of outbuildings, including a coach house that the Smiths converted to create a museum to the history of both the estate and Poundland.
The formal gardens include box hedging, lawns, squash court, the moat, raised terraces, a lake and an orchard.
The main house has over 8,000 sq ft of accommodation including four reception rooms, nine bedrooms, seven bathrooms and extensive cellars
The kitchen area inside the property which has an island and a chandelier
One of the living rooms in the property which boasts period features
A luxurious main double-bedroom at the home which features a four-poster bed and fireplace
A Poundland store in Staines-upon-Thames, Surrey
When Steve turned 18 and wanted to launch a business of his own, his father Keith gave him the idea of starting up a shop where everything was £1.
With a £50,000 loan from Keith, the pair co-founded Poundland, with the first shop opening in Burton upon Trent, in Staffordshire.
Steve, 61, 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.
The home was bought in 1997 by Keith Smith with his Poundland profits
Mr Smith and his wife Maureen spent £7million on a major refurb of the nine bedroom Jacobean mansion
The swimming pool which is located underneath the floor
A bridge across the moat which surrounds the stunning property in Claverley
'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.
'Living locally myself, I have some really happy memories of their time here. I used to bring dad the broken sweets we couldn't sell and he'd feed them to the cows that he kept in the grounds. The cows were sold to a supermarket chain who said that it was the sweetest meat they'd tasted.
'We'd also hold charity events and open up the museum to visitors and raised 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 own 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.'
Ludstone Hall is being sold by estate agents Fisher German.
