Millionaire Steve Smith put his Hammer Hill House in Romsley, Shropshire on the market in November 2014 for £6.5 million
Mr Smith set up discount chain Poundland.com in Burton upon Trent in 1990, and there are now 500 UK stores, selling everything from toys to toiletries, stationery to shampoo and bread to biscuits – all for the same price as the actual store.
He sold his share in the business in 2002, for £50 million, which helped him buy Hammer Hill House.
He hoped the move would save him around £117,000 in solicitor’s fees.
Instead, a lack of interest saw him forced to drop the price to £5.75 million and advertise through Rightmove.
Now Steve, who has a personal fortune of £50 million, admits he is going to make a loss on the Shropshire mansion, after slashing a further £1.8million off the asking price.
He says he is now looking for offers in the region of £3.95 million.
The property was originally designed by Sir Bertram Clough Williams-Ellis, who famously created the Italianate village of Portmeirion in North Wales.
Since Mr and Mrs Smith moved in they have extensively renovated the property and created plenty of home comforts, including a bar.
It also boasts an indoor swimming pool, snooker room, and nearly 30 acres of countryside.
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Poundland founder’s 13-bed mansion still on sale five months after £2.5MILLION was slashed off price