In one of Belgravia’s most exclusive streets, a former Italian embassy has been transformed into a jaw-dropping six-bedroom mansion, now owned by Cathy Ying Zhang, wife of Chinese tech billionaire Jack Ma.
The 7,692 sq ft property, purchased for £19.5 million after a £2 million discount, has been renovated to include luxury features that could rival a palace.
Lavish Interiors and Grand Design
Inside, the mansion is a vision of opulence. A chequered marble floor leads to a grand central staircase adorned with an artistic chandelier.
The master suite alone spans 520 sq ft and includes two walk-in dressing rooms and a giant marble bathroom with twin sinks.
Across six floors, the house features five additional en-suite bedrooms, a reception room, drawing room, dining room with parquet flooring and wood panelling, a basement cinema, a fitness studio, and separate staff accommodation.
Cutting-Edge Security in a Quiet Enclave
Set in a gated enclave on Lygon Place, the mansion is fortified with sophisticated security features.
These include secure underground parking for two cars, two vaults, intercoms, and advanced CCTV and doorbell cameras.
Despite its central location just a short walk from Buckingham Palace and under a mile from Sloane Square, the street remains calm, with very little foot traffic or local attention.
Neighbours Unaware of the Arrival
Interestingly, local residents and shopkeepers seem largely unaware of Ms Zhang’s move.
Adam Delmaestro, owner of the nearby Maestro Cafe, explained that most of the terrace’s previous residents have left due to tax changes, affecting local businesses as fewer staff are in the area.
Other neighbours admitted they had only heard about the move via Instagram or secondhand, and one elderly resident described the area as “not very neighbourly.”
A Historical Home with a Fascinating Past
This mansion is far from ordinary, steeped in nearly a century of history.
Designed by architect Eustace Balfour in 1900 in the Arts and Crafts style, the terrace served as Italy’s embassy for decades.
Notable guests included Prince Edward (later King Edward VIII), Wallis Simpson, and even fascist figures such as Oswald Mosley.
After the war, the Italian defence attaché used the building for six decades before it was converted back into a private home in 2006.
Espionage and Literary Connections
Lygon Place and its surroundings still carry whispers of intrigue.
The house next door once belonged to Sir Reginald Drax, a British admiral and friend of James Bond creator Ian Fleming, who used Drax’s name for a villain in the 1955 novel Moonraker.
Fleming himself lived nearby on Ebury Street, adding a touch of literary espionage to the neighbourhood’s history.
Mansion Market Trends in London
The sale is one of the largest in London since the Labour government took power last year, despite a slowdown in the super-premium market amid wealth and mansion tax concerns.
Mansion prices in the capital have fallen by around 4% in the past year, the steepest drop since February 2021.
High-profile buyers like George Lucas and Tom Ford continue to invest, demonstrating that ultra-luxury London property remains a playground for the global elite.
The Global Property Portfolio of Jack Ma and Cathy Zhang
The couple have been expanding their property holdings worldwide.
Last year, Ms Zhang acquired three adjoining properties in Singapore for £26 million, and they also invested in a château in France.
Jack Ma, founder of Alibaba in 1999, now has an estimated net worth of £35 billion, while Ms Zhang continues to manage their growing international real estate portfolio.
Belgravia’s Newest High-Profile Resident
From its glamorous interiors to its secretive location and illustrious past, the mansion on Lygon Place is now part of a portfolio owned by one of the world’s wealthiest couples.
While locals remain largely unaware, the property itself stands as a symbol of luxury, history, and modern security, perfectly suited to the family of the e-commerce titan.
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