Government proposes exempting REITs from CGT

Property Week News Feed - Thu, 11/01/2018 - 05:35
The government has proposed giving REITs an exemption to capital gains tax (CGT) when they make disposals of UK properties held in company structures.
Categories: Property

Faraday Future Founder Quits, Calling Faraday’s Future Into Question

Motortrend News Feed - Wed, 10/31/2018 - 22:15

We’ve heard things were bad at Faraday Future for a while, but after securing $2 billion in funding and completing its first body-in-white ahead of schedule, it sounded like FF may have turned things around. Unfortunately for the employees who depend on the electric car startup for a paycheck, the latest news paints an extremely bleak picture of the company’s future.

The Verge reports that Nick Sampson, one of Faraday Future’s three co-founders, has resigned. That development comes only a day after news broke that Peter Savagian, the company’s senior vice president of technology and product development, had left the company. In an email obtained by The Verge, Sampson even went so far as to call FF “effectively insolvent.”

In a statement, Faraday Future said, “We can confirm the recent departures of Peter Savagian, SVP, Global Product and Technology and Nick Sampson, SVP, Product Strategy—we wish them the best of luck in their future endeavors.”

Losing two top brass would be bad enough on its own, but last week, it was also reported that a slew of employee would be hit by layoffs, pay cuts, and furloughs. In addition to every employee receiving a 20-percent pay cut, those that have been laid off reportedly had the 20-percent cut applied to their final paychecks and received no severance.

Faraday confirmed that all employees hired after May 1 will be required to take an unpaid furlough lasting at least through December, but it could last longer depending on how soon funding can be secured. Salaried employees who were hired before May 1 may continue to work “at a reduced level of compensation,” according to Faraday. That reduced level is reported to be $50,000 a year. Meanwhile, hourly workers will be paid minimum wage. These changes will “basically shut down the company,” wrote Sampson in his resignation email.

As bad as all that sounds, Sampson isn’t ruling out one day coming back to Faraday, writing, “If circumstances should materially change, I certainly would consider returning to the company.”

In its statement, Faraday said the company received a “favorable ruling” in its arbitration against Evergrande, the Chinese real estate group responsible for the recent $2 billion investment. That means the startup is now free to seek other sources of funding, though it admits that process will take time, which is why the furlough period is open-ended. If CEO Jia Yueting can find a new investor, or work out the disagreement with Evergrande, it’s possible FF could turn things around. We’re just not going to hold our breath.

Source: The Verge 1, 2, 3

The post Faraday Future Founder Quits, Calling Faraday’s Future Into Question appeared first on Motor Trend.

Categories: Property

Hyundai, Kia Cars Will Offer Solar Roofs After 2019

Motortrend News Feed - Wed, 10/31/2018 - 21:00

Hyundai and Kia will be the next brands to incorporate solar charging into their vehicles. Hybrid models are slated to receive the tech first, but solar systems will eventually roll out in EVs and conventional internal combustion cars after 2019.

The Korean car brands haven’t said which models will get the solar roofs, and in which markets. But we do know the first-generation system will comprise a structure of silicon solar panels integrated into a standard car roof. Hyundai says the system can charge about 30-60 percent of the battery in a day, depending on weather conditions and other factors.

At some point, Hyundai and Kia will roll out a second-generation system, this one designated for vehicles with internal combustion engines. The automakers boast this system for combustion vehicles will be a world-first application for solar charging technology. It integrates into a panoramic sunroof to simultaneously let light in and charge the vehicle’s battery.

Moving into the third generation of the technology, Hyundai and Kia will put solar-charging technologies on the hoods and roofs of electric vehicles. The automakers haven’t announced a timeline for the rollout, but say they are currently testing the system.

Of course, Hyundai and Kia aren’t the only automakers entering the solar power realm. Japan’s version of the Toyota Prius Prime offers a solar roof. The Karma Revero, an extended-range electric vehicle, has a solar roof, too. Audi said last year it’s working on integrating solar cells into panoramic glass roofs to increase the range of electric vehicles.

Source: Kia

The post Hyundai, Kia Cars Will Offer Solar Roofs After 2019 appeared first on Motor Trend.

Categories: Property

Waymo Granted First Permit to Test Fully Driverless Cars in California

Motortrend News Feed - Wed, 10/31/2018 - 19:45

California has a track record of strict regulations for autonomous cars, but as the technology progresses, it has loosened some of its rules. It now allows companies to test autonomous vehicles without a safety driver behind the wheel on public roads, within certain limits. And Waymo has been granted the first permit in the state for these truly self-driving cars.

Waymo will test its fleet around the headquarters of its parent company Alphabet, which owns Google. The vehicles will roam around Mountain View, Sunnyvale, Los Altos, Los Altos Hills, and Palo Alto, the company said in a recent blog post. If Waymo chooses to expand to other areas, it will notify the affected communities and submit a request to the DMV.

Waymo has been granted permission to test on city streets, rural roads, and highways in the daytime and evening. The company is no stranger to autonomous cars without safety drivers. Its fully driverless cars have been shuttling around passengers in the Phoenix area of Arizona for more than a year now as part of an early rider program. Eventually, Waymo will open a similar program for the public in the Bay Area.

Since its inception in 2009, Waymo says it has logged more than 10 million autonomous miles on public roads across 25 different cities. The company has a fleet of Chrysler Pacifica Hybrids fitted with sensors to support autonomous driving, and it’s in the process of adding autonomous Jaguar I-Paces (pictured above). The last we heard, Waymo was exploring the possibility of developing autonomous tech for trucks. Despite the advances made by multiple automakers and tech companies, we’re still a long way from an autonomous future, thanks to limited infrastructure as well as legal and ethical hurdles.

Source: Waymo

The post Waymo Granted First Permit to Test Fully Driverless Cars in California appeared first on Motor Trend.

Categories: Property

Regus deal takes Watford’s Croxley Park Building 2 to fully let

Property Week News Feed - Wed, 10/31/2018 - 19:13
Columbia Threadneedle has secured a major letting to IWG’s flexible workspace brand Regus to take a 65,000 sq ft Grade A office building at Croxley Park to fully let.
Categories: Property

2019 Lexus LX Inspiration Series Costs $101,715

Motortrend News Feed - Wed, 10/31/2018 - 19:00

If you’re in the market for a full-size luxury off-roader with seating for seven, the Lexus LX 570 is one of the few SUVs that fit the bill. It’ll also cost you at least $87,125 including destination. But what if you want your LX to be a little more special, and perhaps more expensive? That’s where the Inspiration Series comes in.

Today, Lexus announced a new special edition LX that it plans to show off at the L.A. auto show next month. Unlike the LC Inspiration Series, the LX Inspiration Series is painted black. It also gets 21-inch black wheels with black center caps and a blacked-out grille surrounded by dark chrome. The headlights have been lightly smoked, and everything from the foglights to the windows is accented with either black plastic or dark chrome. Inside, the black theme continues, perhaps most noticeably on the headliner. The seats, however, stand out with white leather.

Inspiration Series LX models also come with heated and ventilated seats, Lexus’ advanced climate control system, a rear-seat entertainment package, a premium sound system, and a head-up display. There’s also a refrigerated compartment beneath the center armrest, a wireless charger, and a heated steering wheel. “LX” puddle lights complete the package just in case you’re worried someone won’t know which Lexus you drive.

Lexus says it plans to build 500 examples of the LX Inspiration Series, each priced at $101,715 including destination.

Source: Lexus

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Categories: Property

NAV notches up for AEW's UK Long Lease REIT

Property Week News Feed - Wed, 10/31/2018 - 18:00
Regionally-focused investor AEW UK Long Lease REIT has a small 0.7% rise in NAV for the third quarter of this year to 30 September.
Categories: Property

Superformance GT40 Replica Offers Ford GT EcoBoost V-6 Power

Motortrend News Feed - Wed, 10/31/2018 - 17:00

Last week, Ford announced plans to increase GT production yet again. But even though it plans to build 350 more cars, that will only bring the total to 1,350. If you’re one of the many enthusiasts who love the Ford GT, but can’t see yourself plunking down roughly half a million dollars for one, perhaps the Superformance Future GT Forty could be an acceptable substitute.

First revealed at the SEMA Show, the Superformance Future GT Forty is a lot more than a GT40 kit car. As we found when we drove Superformance’s Corvette Grand Sport, these cars use high-quality components and are extremely well-built. But Superformance has been selling GT40 continuations for years. The big difference here is the engine. Instead of a V-8, the Future GT Forty uses a 3.5-liter twin-turbocharged V-6 just like the current 647-hp Ford GT.

Unlike Ford’s factory supercar, though, Superformance sourced the Future GT Forty’s turbos from Garrett. And unlike the original GT40, it rides on a Shockwave air suspension and has a carbon-fiber aero kit. Even though the car is thoroughly modern, though, Superformance says two-thirds of the chassis’ parts are interchangeable with the original GT40. It’s also absolutely gorgeous, just like the original.

Superformance says it doesn’t have official performance figures yet, but the goal is to hit 700 hp and 650 lb-ft of torque on E85. And since the car only weighs about 2,400 pounds, that should be enough power to run from 0-60 mph in the low-three-second range. That would make the Future GT Forty a bit more powerful and about as quick as the current Ford GT, and considering pricing starts at $179,900, it’s also much less expensive.

Source: Superformance

The post Superformance GT40 Replica Offers Ford GT EcoBoost V-6 Power appeared first on Motor Trend.

Categories: Property

Channel 4 picks Leeds for new national HQ

Property Week News Feed - Wed, 10/31/2018 - 15:52
Broadcaster Channel 4 has confirmed Leeds as the location for its new headquarters, selecting the Yorkshire city ahead of Birmingham and Manchester.
Categories: Property

Subaru Ascent: Best Car To Buy 2019 nominee

The Car Connection News Feed - Wed, 10/31/2018 - 14:35
Until the 2019 Ascent, Subaru stood by idly watching Outback and Forester owners with growing families trade in their crossover SUVs for Toyota Highlanders and Honda Pilots. The 2019 Subaru Ascent gives those owners reasons to stay loyal to Subaru—and not just because it has seating for eight passengers. The 2019 Ascent is spacious, good to...
Categories: Property

2019 Chevrolet Silverado 1500 and GMC Sierra 1500: Best Car To Buy 2019 nominees

The Car Connection News Feed - Wed, 10/31/2018 - 14:35
Wander through any suburban neigborhood and you'll see plenty of full-size pickups parked in driveways waiting to be loaded up for baseball practice or a run to Safeway. That's why the redesigned 2019 Chevrolet Silverado 1500 and 2019 GMC Sierra 1500 are obvious candidates for our top award, Best Car To Buy 2019. MORE: Read our 2019 Chevrolet...
Categories: Property

Active safety repair costs, Porsche Panamera GTS driven, GM's EV push: What's New @ The Car Connection

The Car Connection News Feed - Wed, 10/31/2018 - 14:30
Study: active safety tech increases collision repair costs A new study from the American Automobile Association (AAA) last week found that vehicles equipped with advanced driver assistance systems such as automatic emergency braking can cost twice as much to repair following a collision than those without the technologies. Feds probe Mercedes-Benz...
Categories: Property

AFIAA acquires West End administrative office of House of Commons

Property Week News Feed - Wed, 10/31/2018 - 13:49
Swiss investment foundation AFIAA has acquired an historic West End office building in London from Real IS’s Bayernfonds Grossbritannien 2 fund.
Categories: Property

CBRE enters flexible workspace sector with Hana

Property Week News Feed - Wed, 10/31/2018 - 13:46
CBRE has become the latest major global firm to enter the flexible workspace sector having announced the launch of its new co-working and serviced office space venture Hana.
Categories: Property

InfraRed expands in industrial with £93m Network Space portfolio buy

Property Week News Feed - Wed, 10/31/2018 - 13:40
InfraRed Capital Partners has acquired a 1m sq ft portfolio of 25 industrial properties in the North West and Midlands from Network Space in a deal worth £93m.
Categories: Property

Shurgard brings in ABC Selfstore for £50m

Property Week News Feed - Wed, 10/31/2018 - 13:37
Self-storage giant Shurgard has exchanged on a deal to buy London-based rival ABC Selfstore for £50m.
Categories: Property

New chief executive for HDH

Property Week News Feed - Wed, 10/31/2018 - 13:24
Retail specialist agency Harper Dennis Hobbs has appointed James Ebel as its new chief executive, taking over from David Harper.
Categories: Property

Investcorp adds Scottish industrial assets to £250m portfolio

Property Week News Feed - Wed, 10/31/2018 - 13:15
Alternatives investor Investcorp has acquired a portfolio of five industrial units in Scotland for £11.5m to add to its £250m European real estate portfolio.
Categories: Property

Colliers EMEA earnings climb 56%

Property Week News Feed - Wed, 10/31/2018 - 12:10
Colliers International has reported a 56% year-on-year rise in adjusted EBITDA for the EMEA region in the third quarter of 2018.
Categories: Property

2019 Nissan 370Z

The Car Connection News Feed - Wed, 10/31/2018 - 12:07
The 2019 Nissan 370Z hasn’t changed much in its 11 model years on the road. This year is no different. It’s returned with new paint colors and not much else, which leaves this sports coupe firmly stuck in its 2009 release year. We give the 370Z a 5.6 overall with consideration for its great handling and reasonable starting price. (Read...
Categories: Property