Coase Theorem for Wealthy Londoners

My view about the limits to property rights is that all individuals with legitimate rights should explore all means for use of their property with no hindrance. As I read this article by Sarah Lyall, it came to me that a number of property owners in London are choosing to construct pools, theaters and other amenities underground. At first glance, it looks as if this is inordinately expensive but it is just possible because property costs are high and it would not be possible to make acquisitions to allow for the lavish extensions that these owners desire. Because of the limits to extension of property into the sky, these fairly affluent people are choosing to dig underground in order to add to the facilities available to them.

Apart from the illustration of the fact that planning and zoning rules could lead to absurd consequences, I think that this situation reveals that these neighbours should be schooled in the Coase Theorem. Indeed, the excavation and construction creates inconveniences and burden to people in those neighborhoods. And yet, the rise of suits merely suggests that appropriate rules for governing downward expansion are not properly developed. I have not property considered the means for reaching a workable formula but the suits will merely lead to bureaucratic and stiff regulations to the chagrin of all.