The yellow-painted building was built in the first half of the 19th century in the neoclassical style by the eccentric Lord Charles Currie, a visiting Englishman who fell in love with Lake Como.

In 1977, when it was purchased by Italian fashion designer Gianni Versace, it was in a state of neglect. The new owner began restoring it to its neoclassical splendor. The work, completed in December 1980, included landscaping the three acres (1.2 hectares) of ornamental gardens, which include three cottages, a tennis court, a half-mile of lakefront, and a private mooring.

Before Versace's death, celebrities such as Sir Elton John, Sting, Prince, Diana Spencer, and Madonna were regular guests at the property.

In early 2008, the property passed into the hands of millionaire Russian restaurateur Arkady Novikov, who purchased it for €33 million.