Privacy Policy
BACKGROUND:
Property118 Ltd understands that your privacy is important to you and that you care about how your personal data is used and shared online. We respect and value the privacy of everyone who visits this website,
www.property118.com (“Our Site”) and will only collect and use personal data in ways that are described here, and in a manner that is consistent with Our obligations and your rights under the law.
Please read this Privacy Policy carefully and ensure that you understand it. Your acceptance of Our Privacy Policy is deemed to occur upon your first use of Our Site
. If you do not accept and agree with this Privacy Policy, you must stop using Our Site immediately.
- Definitions and Interpretation
In this Policy the following terms shall have the following meanings:
“Account” |
means an account required to access and/or use certain areas and features of Our Site; |
“Cookie” |
means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below; |
“Cookie Law” |
means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003; |
“personal data” |
means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and |
“We/Us/Our” |
Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB. |
- Information About Us
- Our Site is owned and operated by Property118 Ltd, a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- Our VAT number is 990 0332 34.
- Our Data Protection Officer is Neil Patterson, and can be contacted by email at npatterson@property118.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.
- What Does This Policy Cover?
This Privacy Policy applies only to your use of Our Site. Our Site may contain links to other websites. Please note that We have no control over how your data is collected, stored, or used by other websites and We advise you to check the privacy policies of any such websites before providing any data to them.
- Your Rights
- As a data subject, you have the following rights under the GDPR, which this Policy and Our use of personal data have been designed to uphold:
- The right to be informed about Our collection and use of personal data;
- The right of access to the personal data We hold about you (see section 12);
- The right to rectification if any personal data We hold about you is inaccurate or incomplete (please contact Us using the details in section 14);
- The right to be forgotten – i.e. the right to ask Us to delete any personal data We hold about you (We only hold your personal data for a limited time, as explained in section 6 but if you would like Us to delete it sooner, please contact Us using the details in section 14);
- The right to restrict (i.e. prevent) the processing of your personal data;
- The right to data portability (obtaining a copy of your personal data to re-use with another service or organisation);
- The right to object to Us using your personal data for particular purposes; and
- If you have any cause for complaint about Our use of your personal data, please contact Us using the details provided in section 14 and We will do Our best to solve the problem for you. If We are unable to help, you also have the right to lodge a complaint with the UK’s supervisory authority, the Information Commissioner’s Office.
- For further information about your rights, please contact the Information Commissioner’s Office or your local Citizens Advice Bureau.
- What Data Do We Collect?
Depending upon your use of Our Site, We may collect some or all of the following personal data (please also see section 13 on Our use of Cookies and similar technologies):
- Name;
- Date of birth;
- Address and post code;
- Business/company name and trading status;
- Number of properties owned;
- Accountants details;
- Contact information such as email addresses and telephone numbers;
- Proof of residence and ID;
- Financial information such as income and tax status;
- Landlords insurance renewal dates;
- Property Portfolio details such as value and mortgage outstanding;
- How Do We Use Your Data?
- All personal data is processed and stored securely, for no longer than is necessary in light of the reason(s) for which it was first collected. We will comply with Our obligations and safeguard your rights under the GDPR at all times. For more details on security see section 7, below.
- Our use of your personal data will always have a lawful basis, either because it is necessary for our performance of a contract with you, because you have consented to our use of your personal data (e.g. by subscribing to emails), or because it is in our legitimate interests. Specifically, we may use your data for the following purposes:
- Providing and managing your access to Our Site;
- Supplying our products and or services to you (please note that We require your personal data in order to enter into a contract with you);
- Personalising and tailoring our products and or services for you;
- Replying to emails from you;
- Supplying you with emails that you have opted into (you may unsubscribe or opt-out at any time by the unsubscribe link at the bottom of all emails;
- Analysing your use of our site and gathering feedback to enable us to continually improve our site and your user experience;
- Provide information to our partner service and product suppliers at your request.
- With your permission and/or where permitted by law, We may also use your data for marketing purposes which may include contacting you by email and or telephone with information, news and offers on our products and or We will not, however, send you any unsolicited marketing or spam and will take all reasonable steps to ensure that We fully protect your rights and comply with Our obligations under the GDPR and the Privacy and Electronic Communications (EC Directive) Regulations 2003.
- You have the right to withdraw your consent to us using your personal data at any time, and to request that we delete it.
- We do not keep your personal data for any longer than is necessary in light of the reason(s) for which it was first collected. Data will therefore be retained for the following periods (or its retention will be determined on the following bases):
- Member profile information is collected with your consent and can be amended or deleted at any time by you;
- Anti-Money Laundering information and tax consultancy records are to be kept as required by law for up to seven years.
- How and Where Do We Store Your Data?
- We only keep your personal data for as long as We need to in order to use it as described above in section 6, and/or for as long as We have your permission to keep it.
- Some or all of your data may be stored outside of the European Economic Area (“the EEA”) (The EEA consists of all EU member states, plus Norway, Iceland, and Liechtenstein). You are deemed to accept and agree to this by using our site and submitting information to Us. If we do store data outside the EEA, we will take all reasonable steps to ensure that your data is treated as safely and securely as it would be within the UK and under the GDPR
- Data security is very important to Us, and to protect your data We have taken suitable measures to safeguard and secure data collected through Our Site.
- Do We Share Your Data?
- We may share your data with other partner companies in for the purpose of supplying products or services you have requested.
- We may sometimes contract with third parties to supply products and services to you on Our behalf. Where any of your data is required for such a purpose, We will take all reasonable steps to ensure that your data will be handled safely, securely, and in accordance with your rights, Our obligations, and the obligations of the third party under the law.
- We may compile statistics about the use of Our Site including data on traffic, usage patterns, user numbers, sales, and other information. All such data will be anonymised and will not include any personally identifying data, or any anonymised data that can be combined with other data and used to identify you. We may from time to time share such data with third parties such as prospective investors, affiliates, partners, and advertisers. Data will only be shared and used within the bounds of the law.
- In certain circumstances, We may be legally required to share certain data held by Us, which may include your personal data, for example, where We are involved in legal proceedings, where We are complying with legal requirements, a court order, or a governmental authority.
- What Happens If Our Business Changes Hands?
- We may, from time to time, expand or reduce Our business and this may involve the sale and/or the transfer of control of all or part of Our business. Any personal data that you have provided will, where it is relevant to any part of Our business that is being transferred, be transferred along with that part and the new owner or newly controlling party will, under the terms of this Privacy Policy, be permitted to use that data only for the same purposes for which it was originally collected by Us.
- How Can You Control Your Data?
- In addition to your rights under the GDPR, set out in section 4, we aim to give you strong controls on Our use of your data for direct marketing purposes including the ability to opt-out of receiving emails from Us which you may do by unsubscribing using the links provided in Our emails.
- Your Right to Withhold Information
- You may access certain areas of Our Site without providing any data at all. However, to use all features and functions available on Our Site you may be required to submit or allow for the collection of certain data.
- You may restrict Our use of Cookies. For more information, see section 13.
- How Can You Access Your Data?
You have the right to ask for a copy of any of your personal data held by Us (where such data is held). Under the GDPR, no fee is payable and We will provide any and all information in response to your request free of charge. Please contact Us for more details at info@property118.com, or using the contact details below in section 14.
- Our Use of Cookies
- Our Site may place and access certain first party Cookies on your computer or device. First party Cookies are those placed directly by Us and are used only by Us. We use Cookies to facilitate and improve your experience of Our Site and to provide and improve Our products AND/OR We have carefully chosen these Cookies and have taken steps to ensure that your privacy and personal data is protected and respected at all times.
- All Cookies used by and on Our Site are used in accordance with current Cookie Law.
- Before Cookies are placed on your computer or device, you will be shown a cookie prompt requesting your consent to set those Cookies. By giving your consent to the placing of Cookies you are enabling Us to provide the best possible experience and service to you. You may, if you wish, deny consent to the placing of Cookies; however certain features of Our Site may not function fully or as intended. You will be given the opportunity to allow only first party Cookies and block third party Cookies.
- Certain features of Our Site depend on Cookies to function. Cookie Law deems these Cookies to be “strictly necessary”. These Cookies are shown below in section 13.5. Your consent will not be sought to place these Cookies, but it is still important that you are aware of them. You may still block these Cookies by changing your internet browser’s settings as detailed below in section 13.9, but please be aware that Our Site may not work properly if you do so. We have taken great care to ensure that your privacy is not at risk by allowing them.
- The following first party Cookies may be placed on your computer or device:
Name of Cookie |
Purpose |
Strictly Necessary |
JSESSIONID |
Used only to collect performance data, with any identifiable data obfuscated |
No |
__cfduid |
This cookie is strictly necessary for Cloudflare's security features and cannot be turned off. |
Yes |
- Our Site uses analytics services provided by Google Analytics and Facebook. Website analytics refers to a set of tools used to collect and analyse anonymous usage information, enabling Us to better understand how Our Site is used. This, in turn, enables Us to improve Our Site and the products AND/OR services offered through it. You do not have to allow Us to use these Cookies, however whilst Our use of them does not pose any risk to your privacy or your safe use of Our Site, it does enable Us to continually improve Our Site, making it a better and more useful experience for you.
- The analytics service(s) used by Our Site use(s) Cookies to gather the required information.
- The analytics service(s) used by Our Site use(s) the following Cookies:
Name of Cookie |
First / Third Party |
Provider |
Purpose |
__utma, __utmb, __utmc, __utmt, __utmz |
First |
Google |
Helps to understand how their visitors engage with our website |
_fbp |
First |
Facebook |
Helps to understand how their visitors engage with our website |
- In addition to the controls that We provide, you can choose to enable or disable Cookies in your internet browser. Most internet browsers also enable you to choose whether you wish to disable all cookies or only third party cookies. By default, most internet browsers accept Cookies but this can be changed. For further details, please consult the help menu in your internet browser or the documentation that came with your device.
- You can choose to delete Cookies on your computer or device at any time, however you may lose any information that enables you to access Our Site more quickly and efficiently including, but not limited to, login and personalisation settings.
- It is recommended that you keep your internet browser and operating system up-to-date and that you consult the help and guidance provided by the developer of your internet browser and manufacturer of your computer or device if you are unsure about adjusting your privacy settings.
- Contacting Us
If you have any questions about Our Site or this Privacy Policy, please contact Us by email at info@property118.com, by telephone on 01603 489118, or by post at 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB. Please ensure that your query is clear, particularly if it is a request for information about the data We hold about you (as under section 12, above).
- Changes to Our Privacy Policy
We may change this Privacy Policy from time to time (for example, if the law changes). Any changes will be immediately posted on Our Site and you will be deemed to have accepted the terms of the Privacy Policy on your first use of Our Site following the alterations. We recommend that you check this page regularly to keep up-to-date.
Ed Atkinson
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Sign Up20:42 PM, 1st November 2013, About 11 years ago
Hi Tony
I have a question: has there been a significant recent change in the willingness of your local councils to approve small developments within urban areas? It would seem likely due to the imposition from above to build more housing units. Reading Borough Council is of particular interest for us.
Thanks, Ed
Mark Alexander - Founder of Property118
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Sign Up12:16 PM, 2nd November 2013, About 11 years ago
I also have a question Tony.
What are the profit margins on one of your typical 4 property new build developments as opposed to say, buying a distressed suburban bungalow on a large plot and increasing the floor space by around 20% together with full refurbishment? Also, if there is additional profit is it really worth the hassle to build new based on having to provide additional guarantees to buyers?
A typical return for my family based on the bungalow refurbishment/expansion model is 20% - 25% ROI over 12 months after factoring in all costs including labour, materials, fees, financing etc.
.
Steven Burnell
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Sign Up17:08 PM, 2nd November 2013, About 11 years ago
Hi Tony
How easy is it to convert an old closed down pub in a housing estate into, say, separate Flats? I guess the structural side of the project might vary depending on the existing building, but what about the change of use side of things too? Some of these run-down pubs are very cheap & often close to shops & bus routes.
AnthonyJames
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Sign Up16:34 PM, 5th November 2013, About 11 years ago
Reply to the comment left by "Ed Atkinson" at "01/11/2013 - 20:42":
Thanks Ed. I would say that councils have become more hostile to small developments in recent years, not more favourable. This is in part a political response to all the headlines about "garden grabbing" and taking up the opportunity offered by the redesignation of backland as greenfield rather than brown by the Coalition Government in 2010. It has become far more difficult for developers of a certain kind to cram backland sites with flats and tiny houses. Some would argue this is a good thing, and I would say that as long as you follow the LPA's planning design guide (assuming they have one) very carefully, it is still possible to redevelop backland sites and make a profit with well-designed units that are "in keeping", and this needn't mean simply slavishly copying the often-indifferent design of the surrounding houses.
Another reason for life becoming harder for small developers and small sites is an increasing trend for LPAs to impose social housing obligations on smaller and smaller sites. In Wokingham, for example, you only had to give away 33-40% of your site to a housing association if you had more than 15 units; now the limit is just five units. This often makes backland redevelopment unviable. Councils are also taking the opportunity to charge higher and higher S106 and Community Infrastructure Levy taxes: new housing is being treated as a cash cow to subsidise the delivery of social housing and local infrastructure, and many small builders and developers are being reduced to only handling sites of 4 units or fewer, with no chance of ever expanding because affordable housing makes larger sites unaffordable.
Finally, it has to be said that the new planning regime makes it much more attractive for councils to encourage the national housebuilders and landowners to bring forward large sites. Wokingham BC, for example, has a strategy of concentrating 12,500 new houses to 2026 on just four Strategic Development Locations (Shinfield, Arborfield, North and South Wokingham SDLs), with large associated "contributions" towards intrastructure improvements and social housing from the developers. In contrast WBC is only allowing for 1000 other houses to be built on so-called windfall sites: that's just 80 houses a year across the borough, to be fought over by every small builder and self-builder in the area. If WBC is serious about this 1000 house limit, there may be a point where they just say "we've reached our housing allocation limit, so no more small plots will be allowed until 2027"!
However, each LPA is different, and Reading BC is always going to have problems because it is so constrained in space. Ultimately all you can do is find a likely-looking site, acquaint yourself with the Design Guide and local tax regime, and make an application in the normal way. Ultimately local planning authorities aren't supposed to "look favourably" one way or the other - they are meant to have a degree of objectivity and you have to have some faith that this is in true, even if it sometimes appears that political connections, backhanders and the big boys have everything sewn up in advance.
AnthonyJames
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Sign Up16:45 PM, 5th November 2013, About 11 years ago
Reply to the comment left by "Mark Alexander" at "02/11/2013 - 12:16":
Thanks Mark. Your question seems to me almost impossible to answer, because "it depends". Every site is different, each housing market area has a different profile. I gave up doing refurbishments after 2008 because I could not make an adequate profit: the costs of purchase, remodelling and selling were high, and in a severely constrained mortgage market, the chances of actually getting the uplift in value I needed seemed far too risky: punters would see the price you paid, see the work done, and assume you were looking for a premium price and then just beat you down. With so few buyers around, it was a buyer's market.
In contrast, the attraction of new-build to me was that you were genuinely adding a new property on the site with a measurable value, plus or minus 5%. I am still evolving as a developer and building my experience, so I'm still making plenty of mistakes, usually probably on the side of over-specifying and making the properties nicer inside than they strictly need to be. My profit margins are around 20-25%, but this has been spread over several years as I've battled through the nightmare of securing planning permission, so your family are almost certainly running a better business than I am.
I'd say the additional guarantees you ask about (NHBC, Premier Guarantee etc) are a red herring as if you've built properly, in practice there are almost no costs for the two years of liability. However there is the cost of the NHBC insurance, as well as S106 taxes, planning fees and so on, all of which you escape by doing refurbishments. So if you can find a clapped-out property at the right low price, that is certainly a sensible way to go instead of the capital-intensive and planning nightmare that is new-build.
AnthonyJames
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Sign Up17:57 PM, 5th November 2013, About 11 years ago
Reply to the comment left by "Steven Burnell" at "02/11/2013 - 17:08":
Hello Steven,
"How easy" in the planning world is like asking how long's a piece of string: it depends! It certainly appears to have become a lot easier to convert redundant office buildings into flats or small houses this year, as this now counts as permitted development and you will not be subject to the immense raft of regulations that apply to the creation of new housing units. You still need to seek planning permission for the change of use, but provided you can show the conversion fits the PD rules, it ought to be waved through. I think there are going to be a lot of these types of conversion, because you are not subject to S106/CIL taxes or affordable housing rules, nor do you have to follow - it appears - the local borough's design rules as regards the provision of amenity or parking space or the separation distances between buildings. Of course you will still want to provide parking and amenity space in order to make the development practical and attractive to buyers, but you do not have slavishly to follow every last dot and dash of the Design Guide. You will also get the usual objections by local householders on every imaginable ground, especially the dreaded "overlooking". But applying under PD rights is much, much simpler and faster than a fully-fledged application to build new units, which the planning system seems designed to block at every opportunity.
From the proposals I've seen so far, you need to be careful not to enlarge the footprint of the site - for an easy life, just convert as best you can within the existing building envelope and follow the building regulations regarding fire and sound insulation, means of escape etc, as advised by your architect/architectural technician.
However I've only seen proposals for change of use and conversion of office buildings so far. It's possible that a council might take a different attitude as regards a pub, because this falls under a different planning classification and the council might not want to lose the community amenity. My advice would be read the new regulations carefully and probably work with a planning consultant with experience of change of use: their fee will be worth the expense.
You may also encounter competition for pub sites from self-builders or higher-end developers looking to convert them into nice houses; a better route might be to look at unloved and largely-empty office buildings, especially those converted from domestic use at some point in the past, so they should be easy to convert back into residential units without scaring too many horses. Some Victorian cottages runs as a little block of office in a marginal location will convert more easily back into housing than a 1960s system-built glass and concrete small office building, unless you're prepared to spend some money on design work and improving the external façade.
Mark Alexander - Founder of Property118
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Sign Up19:19 PM, 5th November 2013, About 11 years ago
Reply to the comment left by "Tony Atkins" at "05/11/2013 - 16:45":
It's interesting what you say about "the right price". We've been paying around 10% over asking price on sealed bids for the last 12 months or so. Recently we've been outbid. Demand is definitely increasing in our area, probably due to funding getting easier to obtain again. We had the market pretty much to ourselves when funding was virtually impossible to obtain or too pricey if it was.
.
AnthonyJames
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Sign Up19:20 PM, 5th November 2013, About 11 years ago
Reply to the comment left by "Mark Alexander" at "02/11/2013 - 12:16":
Actually, Mark, on reflection I think I was being unfair to myself. I gave a gross profit margin of 20-25% for my recent builds, but I'd forgotten that I still have a residue of land on both sites that is developable and has an access route. I haven't yet secured planning on either of these sites, but if I do so and build out the plots, the overall margin over three years will be more like 100% per site.
In other words, the refurbish and extend route is a good one if, like you, a developer can find sites offering a 20-25% return over a year. I would struggle to match that if I bought a similar plot of land and knocked down the old house and built two new ones or 4 flats, as I did recently. But since my residual backfill land remains to be developed, the overall returns are actually much better with new build, because of the intensification of use. Large sites escalate in value only if you have a realistic means of access to open up the rear and increase the housing density. Without the access, the refurbishment route is probably more cost-effective.
Another way of getting a good return from a large site when you have limited capital is just to get the planning permission on the extra units and then sell the site on to another builder or to self-builders. Depending on your area, a self-builder is often prepared to pay more than a developer/builder, because they value their time at zero, don't want to make a profit, and are prepared to over-pay because they want to live in the area anyway. Historically developers rarely sold their sites on to self-builders because planning was so hard to obtain and there was still profit to be made in actually building the houses as well. With the ever-increasing costs of construction combined with a tight land supply, I think more and more developers will look seriously at giving up being involved in construction and instead simply sell their sites on "shovel ready" for self-builders.
AnthonyJames
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Sign Up19:29 PM, 5th November 2013, About 11 years ago
Reply to the comment left by "Mark Alexander" at "05/11/2013 - 19:19":
That's interesting Mark. Refurbishment almost becomes a dead cert when prices are rising, so people start jumping on the bandwagon and will outbid each other. I can remember watching Sarah Beeny pre-2008, when time and again her renovators were ecstatic over the gains they were making, until she pointed out that 100% of the gains were actually just down to general rises in the market: the renovators could have saved themselves all the heartache and aggro and just sat on the property and done nothing, and they'd have done just as well. As ever it's about price and location. Buy the worst house in a good street and refurbish and extend it, and you will do well, but buy a so-so house in a so-so street and you're probably wasting your time.
Mark Alexander - Founder of Property118
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Sign Up19:29 PM, 5th November 2013, About 11 years ago
Reply to the comment left by "Tony Atkins" at "05/11/2013 - 19:20":
You must be a mind reader Tony, the last deal we've just got outbid on was exactly that scenario. Refurb the bungalow, split the oversized to obtain an additional plot and access, get planning for a new dwelling and then sell the plot. We would still only have made an overall ROI of 40% after all costs based on our bid but we didn't get it. We are intrigued as to who did and what they will do as we cut our margins to the bone to get that deal, considering the risk element of whether we would get planning, and we still lost out!
.