Black Country businessman's £10m property plan to help young people get on housing ladder
A businessman from the Black Country has outlined his plans to invest £10 million into property with the aim to help the younger generation.
Steven Hamilton, known as Ste, is originally from Smethwick but lived in Willenhall for a large part of his life, and is now a property developer based in Colmore Row, Birmingham.
Ste has now revealed plans to invest £10 million into property in Birmingham as he aims to help support the younger generation with social housing.
As part of the investment plan, Ste has just purchased a dilapidated care home which was unused and he plans to redevelop the building into self-contained units, which is all part of the plans to help vulnerable people across Birmingham.
Speaking about his latest property purchase, Ste said: "The property I am purchasing is currently a disused care home made up of two large dwellings, and it is a bit of an eyesore in the area.
"I purchased it for £432,500, and we plan to carry out a major redevelopment to convert the existing structure into self contained units, which is all part of my bigger plan to help vulnerable people in Birmingham.
"This year, I am planning to invest £10 million into property in Birmingham and it will be to help support the younger generation with social housing.
"The plan is to purchase dilapidated buildings, both residential and commercial, with a view to convert them into either HMO's, self-contained units or flats - with the end goal of building a housing development under the help to buy scheme which will essentially create a funnel.
"This idea of a funnel is to be able to get the younger generation into housing. Where they start with living in a HMO, and then eventually move over to a self-contained unit, followed by a one-two-bed flat, to then renting one of the houses with a view to purchasing it.
"The bigger idea and the funnel process is to help younger people get onto the property ladder without it being such a pressure both mentally and financially.
"This purchase will be a pivotal part of my plan as it is great both in terms of location and size."
Ste currently works as a property developer and shares his daily life on social media sites such as YouTube, Instagram and TikTok, so that viewers can see the hard work he puts into the property industry, and with the aim of showing that it is not all glamorous, and that a lot of sacrifice and endless hours of work is required in order to be successful within the property industry.