Anerley Terrace was built in two sections.  The first two houses were built in 1866 and the second two in 1868.  The houses were built for Joseph Wilmoth who one reference gives as a law stationer, otherwise his occupation is only ever listed as gentleman.  He was a dedicated churchman serving as secretary of The Richmond Young Men's Christian Association, and later as secretary of the committee of East Melbourne’s Trinity Church.  Before building Anerley Terrace he had built a house for himself next door to the old parsonage in Hotham Street where he lived until about 1874 when he moved to Gipps Street. 
About 1870, soon after its completion Wilmoth sold the terrace to Thomas Adams, licensee of the Paddington Hotel in Little Collins Street. In 1874 the property was on the market again, advertised as:
‘All that valuable freehold property, comprising four two story brick (cemented fronts) dwelling houses, well and faithfully built, with slate roofs, verandahs, and balconies, each containing hall, two sitting-rooms and three bedrooms, kitchen, scullery, with copper boiler ; bathroom, &c , good yards, properly drained, with gardens in front, let to respectable tenants, and returning a good income.’
It sold at auction for £2,050.  The purchaser was Richard Robert Cross.  In 1871 Cross was described as a piano manufacturer of Bridge Road, Richmond, but two years later he had moved to Royal Arcade in the city and was in business as a seller of music and musical instruments.  In 1878 he retired. Richard Cross owned the property until his death in 1892, and it remained in the hands of his trustees until the mid-1930s.
The rate books indicate that the tenants found the houses comfortable and the landlord reasonable as a considerable number of them stayed for many years. Michael Hayes, a wine merchant, with his wife and children, was at No 51 for about forty years from c.1900. William James Allester, a broker, also with his wife and children, lived at No 49 for over thirty years from c.1880. John A Christopherson was at No 45 for about twelve years from c.1880 and is of particular local interest.  With a long career behind him as a teacher and many years as a head teacher, he became head teacher of Yarra Park State School in 1892.  Unfortunately ill-health caused him to retire only a year later.

Note: - The Burchett index card implies that the first house of Anerley Terrace was built in 1862, a second in 1864 and the last two in 1868.  The 1862 and 1864 dates are now known to apply to 29 Hotham Street, the other house built for Joseph Wilmoth, and now demolished.