Final release of Gramercy Terraces now selling at historic Richmond site

Market Insights
1 year ago
2 minutes

Only twelve dwellings remain on offer at Gramercy Terraces, situated in the leafy east of Richmond. The project marks the completion of the residential component of Lendlease’s broader intergenerational living precinct in Melbourne’s inner city. 

Construction of the final Gramercy Terraces residences commences in July, 2022. Project completion is expected in late 2023.

The Federation-era red brick buildings onsite, once home to the iconic Channel 9 studios and Wertheim piano factory, are undergoing a landmark redevelopment. Thirty-one three and four-level, individually titled three-bedroom dwellings with dedicated car spaces are being integrated into the site for the Gramercy Terraces project.

Stemming back to circa 1910, the Wertheim piano factory was one of the largest piano factories in Australia, and the first in Victoria. Wertheim crafted some 18,000 upright pianos up until 1935, before the closure of the factory due to the great depression.

A Lendlease spokesperson has said that “Gramercy Terraces... allow residents to embrace the vibrancy and pace of an urban lifestyle while promoting diversity and connection across generations within the local community.” 

Gramercy Terraces will join Ardency Kennedy Place, Lendlease’s five-star retirement living community, in a new luxury residential precinct. 

Also featuring onsite will be a new café and provedore, the existing Richmond Community Learning Centre, and a thirty-seat cinema named the Newton Theatre, after the late Australian television icon, Bert Newton.  

The design of Gramercy Terraces draws from the historic red brick carried throughout much of Bendigo Street, articulated in a highly sustainable, community-centric format. The precinct is poised to secure a 6 Star Green Star Communities rating from the Green Building Council of Australia. 

Gramercy Terraces will have a distinctly boutique, village-inspired character, and provide residents with large homes ranging from 193sqm – 215sqm. Dwellings feature private balconies and large private rooftop terraces capturing Melbourne CBD views.

The redevelopment throughout the new precinct will revitalise the Richmond locale, creating new local engagement with the extensive amenities, cafes, restaurants, and retail throughout nearby Swan Street and the surrounding area.

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