Richmond Palace was a royal residence on the River Thames that stood in the sixteenth and seventeenth centuries. It lay upstream and on the opposite bank from the Palace of Westminster, which lay nine miles (14 km) to the north-east. It was erected about 1501 by Henry VII of England, formerly known as Earl of Richmond, in honour of which the manor of Sheen had recently been renamed as "Richmond", later to become Richmond upon Thames. It replaced a palace, itself built on the site of a manor house appropriated by the Crown some two centuries before.
More information on the Wikipedia page [1]. London Borough of Richmond information is here