The lookout is located off Thornley Street in Marrickville South, overlooking the Cooks River. This place has historic significance since it was the site of Thomas Holt’s home, The Warren, which began construction in 1857. Holt had an extensive estate covering much of Marrickville which included the mausoleum (burial vaults) on the foreshore of the river. After Holt’s death Carmelite nuns lived in the Warren from 1886 to 1903. During World War I the Warren was used as a military encampment and then returned soldier’s housing.

In 1919 the Warren was obtained by Marrickville Council and the house was demolished. At this time it became a look-out reserve. It was named Richardson’s Lookout after 1935. In 1967 two pillars, which had been taken from the demolished house were erected in the Park to act as a memorial to Thomas Holt.

Members of the local Aboriginal community consider Richardson’s Lookout a place of high importance because its elevated location would have made the area a place of significance to Aboriginal people in the past. A sandstone overhang containing painted art and midden in Undercliffe can be seen across the river from Richardson’s Lookout.