The council bought the property last May from the Walker family.
It includes a five-bedroom 440sq m copper-roofed house, 320sq m of vehicle/aircraft garaging and an in-ground swimming pool.
The council’s long-term view is to open the area up for community facilities, including sports fields and community space, but it also may include a transport hub or park-and-ride facility.
A master plan for the wider Ladies Mile area is about to begin. This May, the council announced a request for proposals to identify a partner to develop that.
In a statement, the council said the project was expected to be complete towards the end of this year.
While the grounds were accessible by the public, at present the existing buildings were not.
The council said once the NZ Transport Agency finished building a roundabout at the intersection of Howards Dr and State Highway 6, there would be "suitable access for increased traffic to the site" and the council could "explore options for opening up the property further",
