In 1855 Ruggero Bonghi, a Neapolitan philologist and politician who was a friend of Manzoni and Rosmini, bought some lands in the south of the town of Stresa to build a holiday home with a garden. Thus was born the central nucleus of what is now the Pallavicino park. Then the property was sold to the Duke of Villambrosa who enlarged the building and planted groups of trees almost unknown in Italy at the time, such as Lyriodendron tulypifera and sequoias, in the park.
In June 1862 the property passed to Stefano Lodovico Pallavicino, who enriched the park with greenhouses and numerous driveways and embellished the villa inside and out with decorations and giving it its current imposing appearance. In 1878, on his death, the Villa and the Park had already assumed their current appearance.
Covering a surface of about 18 hectares, the park includes a zoological garden planned by the proprietor's mother, open lawns and classical gardens. There are innumerable trees including majestic sequoias, centuries-old chestnut trees, lyriodendrons, red beeches, maples in many varieties, larches, oaks, plane trees, magnolias and majestic sequoias. A superb cedar of Lebanon competes in grandeur with the facade of the villa.
Inside the park there is a farm with meek Tibetan goats, ''saltasassi'' sheep, sheep, llamas and deer that that live free in the grounds and look for contact with young visitors.
In July 2017, the Pallavicino Park became part of the Terre Borromeo circuit with Isola Bella, Isola Madre, Rocca di Angera and Parco del Mottarone. Since January 2021, Villa and Pallavicino Park have been the property of Prince Vitaliano Borromeo.