CSIRO sold the site to Gunyar Pty Ltd in June 2002 with a 20 year lease allowing CSIRO to retain control of the property until 2022. The Crown Lessee of the site is The Trustee for Gunyar A.C.T. Properties Trust.
The beneficiary of the Trust is The Shepherd Foundation, a Registered Charity whose primary purpose is to assist children with hearing loss. The Shepherd Foundation is headquartered in Sydney and has a local presence in Canberra, The Shepherd Centre at Rivett.
Oakstand, has partnered with The Shepherd Foundation to deliver the evolution of the CSIRO site to Forestry Place, Yarralumla.
Because of its size, heritage and location, the site could host a mix of residential, commercial, cultural or community future uses. After several iterations of master planning and extensive stakeholder engagement by the proponent, the Department of Climate Change, Energy, the Environment and Water, and the National Capital Authority (NCA), the proposed Forestry Place master plan has been determined from a first principles basis, as the most suitable urban design outcome for the site.
Sites that integrate thoughtful, harmonious, creative, sustainable uses largely succeed only after careful and considered master planning. This helps ensure master planned solutions are not only flexible and adaptable, but are also environmentally and economically viable.
The Forestry Place project has recently received the Department of Climate Change, Energy, the Environment and Water approval under the EPBC Act for the master plan, subject to National Capital Plan Amendment.
The National Capital Authority (NCA) has agreed to release Draft Amendment 97 to the National Capital Plan, Block 7 Section 4 Yarralumla for public consultation from Saturday 11 November 2023 until Friday 22 December 2023.