Rosetta, the 12-year-old Italian restaurant owned by Hunter St Hospitality (Rockpool Bar & Grill, Spice Temple, Sake) and previously helmed by top chef Neil Perry, will close on Sunday May 19.

Rockpool Bar & Grill and Spice Temple, other restaurants at Crown Melbourne owned by Hunter St Hospitality, have extended their fixed-term leases and will continue to operate as usual, a spokesperson for the restaurant group told Broadsheet.

Perry – who sold the restaurant to Hunter St Hospitality in 2016 – addressed the closure in a post on his personal Instagram account, writing, “Australia’s most beautiful restaurant to close @crownmelbourne @crownresorts what a waste of a fitout that is as beautiful today as it was 12 years ago. It is sooo [sic] beautiful. It is such a waste and so unsustainable to destroy what should be heritage as it was special the day it was born.”

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The opulent restaurant’s fit-out was designed by Burley Katon Halliday director Iain Halliday, who is known for maximalist design and over-the-top interiors. It was inspired by the iconic 1930s spot Harry’s Bar in Venice, and features marble tables, velvet banquettes, herringbone-patterned floor and draped curtains.

Rosetta will be replaced by The Henley at Crown Melbourne, a bar inspired by the Australian Henley Regatta, and designed by Melbourne interior architecture and design studio, Mitchell & Eades (also behind venues including Grill Americano, Carlton Wine Room and Beverly).

The new venue is expected to open later this year as part of Crown Melbourne’s redevelopment plan, which the company announced last year following parent company Crown Resorts Limited’s acquisition by American investment firm Blackstone for nearly $9 billion.

Crown Melbourne says the new venue will centre around a U-shaped bar, and the menu will be modern Australian, highlighting Victorian produce and focusing on small and share plates.

“The announcement of The Henley at Crown Melbourne signifies the start of what is to come for Crown,” Crown Melbourne CEO Mike Volkert said in a statement. “We are looking to create a portfolio of restaurants and bars that bring together the best culinary and bartender talent from across the world combined with the best local talent and inimitable Melbourne flavour to create the city’s most sought-after hospitality destination.”