Lendlease release Gramercy Terraces, Richmond, final stage

The national development giant, Lendlease, has released the final stage of Gramercy Terraces, the in demand Richmond project located on the historic site of the former Studio Nine precinct.

Gramercy Terraces, designed by Bates Smart, comprises just 31 three and four-level, individually titled three-bedroom residences, each with dedicated car spaces.

Inspired by the precinct’s rich heritage, Gramercy Terraces offer a sanctuary within the inner city with light filled atriums that cascade natural light and spacious individual rooftop terraces with city views.

With only 15 residences remaining, the second and final stage of Gramercy Terraces will complete the residential component of Lendlease’s broader intergenerational living precinct in Melbourne’s inner-city.

“Gramercy Terraces are the residential component of our intergenerational living precinct in Richmond and allow residents to embrace the vibrancy and pace of an urban lifestyle while promoting diversity and connection across generations within the local community,” a Lendlease’s spokesperson said.

“Purposefully designed with families, couples, down sizers and investors in mind, we have seen a strong demand for this product to date with only 15 terraces now remaining."

The architectural design of Gramercy Terraces draws inspiration from the iconic Federation-era red brick of Bendigo Street and pays homage to the former site of the Nine Network studio and the Wertheim Piano factory, Victoria's first piano factory.

Construction of the final residences will start in the first half of this year and future residents can expect to move in following completion in late 2023.

Gramercy Terraces will be joined in the precinct by Ardency Kennedy Place, Lendlease’s five-star luxury retirement living community, a new onsite café and provedore and the existing Richmond Community Learning Centre.

Future residents will benefit from amenities on their doorstop and close proximity to restaurants, cafes and boutiques on Swan Street and easy connection to the rest of the city from Burnley Station. The precinct will target a 6 Star Green Star Communities rating from the Green Building Council of Australia, representing a world standard in sustainable design.

Gramercy Terraces are priced from $1.85 million, and residences range from 193 sqm to 215 sqm with individual balconies and spacious rooftop terraces.