A 13-bedroom mansion once owned by the founder of Poundland has had its price slashed by £250,000 - as its current owners struggle to sell the property.

The home, located in Romsley, Worcestershire, was originally snapped up by co-founder of retail giant Poundland, Steven Smith, in 2002 for £2.2million.

Mr Smith, 51, spent around £4million renovating the property with his wife Tracey, 54, before deciding to sell up once their three children left home. 

He put the house on the market through his own online estate agents in 2014 for an asking price of £6.5million - hoping to avoid paying commission and saving him around £117,000 in solicitors' fees.

However, after a lack of interest, Mr Smith was forced to drop the price to £5.75million. 

In 2018, he had to cut the price once more - this time for a discounted £3.95million.

At the time, Mr Smith said: 'We bought the house for £2.2million in 2002 but we spent probably around £4million doing it up so we are going to lose money.

'We have had the house on the market for a while and had three people interested but their chains have broken down so we've put it on the market again.

'Since the kids have grown up and moved out it's just me and the wife and it's a big place for both of us to live in.' 

The property - which is 103-years-old and has panoramic countryside views - was eventually sold by Mr Smith to a businessman and his family.

Yet last year, For Sale signs appeared outside the property once more, with the new owners demanding offers in the region of £5million.

Now, they have dropped their asking price by £250,000 in an attempt to sell the historic home - which is described by estate agents as an 'iconic country residence'.

The property was designed by Sir Bertram Clough Williams-Ellis, the architect who created the Welsh holiday village Portmeirion - which was the backdrop to 1960s television programme The Prisoner.

It is nestled on 28-acres of grounds in the Severn Valley and offers four paddocks - making it ideal for equestrians or woodland strolls.

The interior boasts seven bathrooms, an indoor heated swimming pool, a games room, a private bar, and a drawing room with a dancefloor. 

An AGA cooker features in the bespoke kitchen, which was hand-painted by Christians of Nantwich. 

There is also an extensive garage, office block and even a greenhouse.  

Two matching three-bedroom gate lodges are included in the sale, which the estate agents Charwell Noble say could provide staff accommodation, guest houses or rental income.