Ed Tryon - Spear's Magazine

Ed Tryon

Litchfields

Ed Tryon
City
London
Category
The Spear’s Indices
Company Size
Boutique

Top Ten London Buying

‘In excess of £50 million there have been probably a dozen deals,’ says Ed Tryon, the impressive founder of Lichfields. He adds: ‘Where we’ve seen a huge drop-off is in the £10-50 million range. There has been less than half the amount of deals than when the market was going gangbusters. All in all, we’re seeing a 40 per cent drop-off in deals per year. It’s a drought.’ Tough times then, but Tryon is determined to see through the difficult part of the cycle, believing that once the market turns it will reward those who have stayed true to themselves. ‘One thing my father taught me – you only have one reputation,’ he says over a coffee in his favourite haunt, 5 Hertford Street. Tryon has some tough words about the UK taxation system. ‘My biggest frustration is for domestic buyers. You’re paying 45 per cent on the majority of your income, and probably paying to educate your kids privately. And you pay 12 per cent on anything over £1 million, and that’s money you’ve already paid tax on.’ Even so, London is likely to remain a perennial attraction, says the likeable Tryon, who welcomed his third child to the world in 2018. ‘It is still going to be high on people’s list come what may,’ he says. ‘If you compare our system to the taxation in US on residences, it’s insignificant. Here we only play council tax. Yes, we front-load our tax – but if you look globally against other places, it’s competitive.’



 

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