We may have found the real explanation for Stella McCartney’s reported plans to tear down and rebuild her new Amagansett beach cottage – it turns out the rich just love to demolish.
According to the Daily Telegraph, once you reach a certain level of wealth, bricks and mortar are just the latest disposable item. Love the location, but don’t like the house? Just call in the demolition team – and build a very expensive box in its place.
“We often see cases where there is a 50/50 choice for the buyer to refurbish or redevelop – and invariably redeveloping wins the battle,” Nick Mead, partner at The Buying Solution, told the Telegraph.
The newspaper reports that “disposable architecture” is a phenomenon found in parts of the world where land values far exceed construction costs. Ultimately, they explain, a building’s intrinsic value and lifespan is more down to its location than its architecture. Meaning that more people are calling in the builders than the decorators. [Daily Telegraph]