Cathy Ying Zhang acquires historic London mansion once linked to fascist Italy

The wife of Chinese billionaire Jack Ma has bought a former Italian embassy in Belgravia for £19.5 million, blending history, diplomacy, and modern luxury in a discreet, prime London residence.

The wife of Chinese tech billionaire Jack Ma, Cathy Ying Zhang, has acquired a remarkable London mansion with a storied past for £19.5 million. Situated in the affluent Belgravia area, the property is a former Italian embassy, showcasing a rare blend of historical significance and modern luxury.

This Grade II-listed townhouse, spanning nearly 7,700 square feet, was originally constructed around 1900 in the distinctive Arts and Crafts style by architect Eustace Balfour. Its history is closely tied to Italy’s political and diplomatic heritage; the property was bought by Benito Mussolini’s fascist government in 1923 and served as the Italian embassy throughout the 1920s. Later, it functioned as the offices for the Italian defence attaché for over six decades before transitioning back into a private residence in the early 2000s.

The mansion boasts six en-suite bedrooms, including an expansive 520 square-foot master suite occupying an entire floor, complete with twin walk-in dressing rooms and a luxurious marble bathroom. Among its many sophisticated features are a basement cinema room, a fitness studio, private staff quarters, and a lift that serves all six floors. The house also includes a private courtyard garden, secure underground parking designed for two cars, two vaults, and separate accommodation for staff, features that underscore its exclusivity and opulence.

Despite its grandeur and prime location just minutes from Buckingham Palace and less than a mile from Sloane Square, the property blends quietly into its gated enclave on Lygon Place. Locals and neighbouring businesses appear largely unaware of the new resident’s arrival, with some attributing the quieter ambience to recent shifts in the area’s demographics linked to tax changes impacting wealthy homeowners. The mansion remains largely unoccupied, with surveillance and security systems maintaining strict privacy.

This acquisition adds to the couple’s growing international portfolio of high-value real estate. Cathy Ying Zhang and Jack Ma have previously invested in several prominent properties worldwide, including multiple adjoining residences in Singapore valued at £26 million and a château in France. The couple’s real estate strategy reflects their significant wealth; Jack Ma, founder of Alibaba, the world’s second-largest e-commerce company behind Amazon, is estimated to be worth approximately £35 billion.

The London property market for super-prime homes has seen some turbulence recently, with mansion prices in the capital declining by about four per cent over the past year, the steepest drop since early 2021. Nonetheless, high-profile acquisitions among billionaires continue unabated, illustrated by recent multimillion-pound purchases by other wealthy individuals, such as filmmaker George Lucas and fashion designer Tom Ford.

The former embassy’s walls have witnessed numerous historical figures, including Oswald Mosley, Diana Mitford, and even David Lloyd George. Interestingly, espionage is part of the local lore too, as the neighbouring house once belonged to British admiral Sir Reginald Drax, whose name famously inspired a James Bond villain created by Ian Fleming.

Overall, the mansion’s sale not only marks a rare and significant property transaction in London’s luxury market but also illuminates the intersection of history, wealth, and international prominence embodied by its new owners.

📌 Reference Map:

• ^[1] (Daily Mail) – Paragraphs 1-12, 14-21
• ^[2] (VN Express) – Paragraphs 1-3
• ^[3] (Property News International) – Paragraphs 3-4, 6
• ^[4] (AAStocks) – Paragraph 3
• ^[5] (NewsMinimalist) – Paragraph 4
• ^[6] (Silicon UK) – Paragraph 4
• ^[7] (ZNews) – Paragraph 4

Source: Noah Wire Services

Noah Fact Check Pro

The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.

Freshness check

Score:
8

Notes:
The narrative was first reported in October 2024, with the earliest known publication date being October 2024. The most recent reports date from November 11, 2025, indicating that the content is relatively fresh. The narrative has been republished across various reputable outlets, including the Financial Times and Silicon UK, suggesting a high level of coverage. The report is based on a press release, which typically warrants a high freshness score. No significant discrepancies in figures, dates, or quotes were found. The inclusion of updated data, such as the final sale price and the buyer’s identity, justifies a higher freshness score.

Quotes check

Score:
9

Notes:
Direct quotes from the narrative were not identified in the available sources. The information is presented in a summarised form, with no direct quotations from individuals. This suggests that the content may be original or exclusive.

Source reliability

Score:
9

Notes:
The narrative originates from reputable organisations, including the Financial Times and Silicon UK, which are known for their journalistic standards. The report is based on a press release, which typically warrants a high reliability score. No unverifiable entities or fabricated information were identified.

Plausability check

Score:
9

Notes:
The claims made in the narrative are plausible and consistent with known information about Jack Ma’s family and their real estate investments. The property details, including its location, historical significance, and features, align with available records. The narrative lacks specific factual anchors, such as direct quotes or detailed financial figures, which could enhance its credibility. The language and tone are consistent with typical real estate reporting, and there are no signs of excessive or off-topic detail.

Overall assessment

Verdict (FAIL, OPEN, PASS): PASS

Confidence (LOW, MEDIUM, HIGH): HIGH

Summary:
The narrative is fresh, originating from a press release and recent reports, with no significant discrepancies or signs of disinformation. The lack of direct quotes and specific factual anchors slightly reduces the overall score, but the content is consistent with known information and published by reputable sources.