ACT government and Lendlease reach settlement on Gold Creek Homestead sale

The ACT government sold the Ngunnawal site to Lendlease in 2021 but had not released the sale price while it awaited settlement.

The Suburban Land Agency has now confirmed the Gungahlin Drive property sold for $4.3 million.

The deal paves the way for Lendlease's $80 million redevelopment project, which the ACT government approved in February.

Lendlease's plans for the 4.8-hectare block include an extension to its adjoining The Grove Retirement Village and a new residential aged care facility to be delivered by Arcare Aged Care.

The milestone was celebrated with a sod-turning event, with representatives from the Suburban Land Agency and Deputy Chief Minister Yvette Berry in attendance.

About 8000 square metres of the block are home to the remnants of the Gold Creek Homestead, dating back to 1860.

Documents published by the Suburban Land Agency stated little of the original building remains.

"Much of the original cottage has been lost or compromised by unsympathetic modifications. Much of the building is in very poor condition," it stated.

Several attempts to nominate the homestead for heritage protection over the years were unsuccessful.

Lendlease confirmed it would retain the historic homestead and restore it as a communal space for residents and visitors.

Lendlease general manager of development Victoria and ACT John Bruzzaniti said the project would create diverse retirement living options for the area.

"The Gold Creek Homestead sod turn marks a key milestone after two years of dedicated hard work in design, planning and community engagement, as we now approach the start of construction," he said.

Once complete the development will include 45 new two- and three-bedroom independent living villas and a 124-bed aged care facility.

Lendlease aims to release the villas for sale later this year, with the completion expected by 2025.

Gold Creek Homestead began life in the 1800s as a grazing property for sheep and cattle and was also used for social functions.

The ACT government acquired the homestead in 1998.

After a failed attempt to sell the homestead in 2018, the government listed it again in 2020.

We've made it a whole lot easier for you to have your say. Our new comment platform requires only one log-in to access articles and to join the discussion on The Canberra Times website. Find out how to register so you can enjoy civil, friendly and engaging discussions. See our moderation policy here.