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nearly 100-year-old luxury beach cottage in the Hamptons, overlooking an exclusive golf course country getaway, has been replaced by a new, larger home. The property, built in the early 20th century and boasting English arts and crafts-style features, was purchased off-market for $12 million by British real estate mogul Laura Capstick-Dale.

    The buyers, who are listed on the Sunday Times Rich List at around $614 million, tore down the charming five-bedroom cottage just one day after purchasing it. A new traditional-style home will be built in its place, spanning 11,500 square feet and nearly double the size of the original property.

    According to sources, the Capstick-Dales have been searching for a home with ocean and sunset views overlooking the Maidstone Club for some time. Nick Capstick-Dale confirmed the news, stating that they feel "really lucky" to have found such a rare opportunity. The new home will be built by Ben Krupinski Builders, who also constructed their previous residence on Egypt Lane.

    The exclusive Maidstone Club has welcomed new neighbors, including New York Jets co-owner Robert Wood Johnson IV. The Capstick-Dales' new home is expected to blend seamlessly into the surrounding landscape and boast stunning sunset views of Hook Pond and the ocean.