The horrors of the Great War, and the subsequent Great Depression,
dealt huge blows both to the aristocracy and the plutocrats who
found that they could no longer afford to run their vast luxurious
As a result, during the 1920s and 1930s, some
twenty-five vast mansions and palaces in Mayfair, and additional
smaller townhouses, in all over £2 billion worth of property at
current values, was ruthlessly torn down and replaced by hotels,
offices, and modern apartment buildings.
The aristocracy and even the plutocrats were forced
to dramatically 'downsize', moving into flats or smaller houses, and
selling off their artwork and cutting down on their staff,
hangers-on, and rich-man's toys...