The Gaol has been sold to a local consortium for $550,000. The Mt Alexander Branch of the Trust is advocating for preservation of key parts of the site from residential development. The Old Gaol is a substantial and iconic heritage complex overlooking Castlemaine. Its architectural and historical importance is widely recognised, and its centrality to Castlemaine’s heritage is comparable to the Market Building in Mostyn Street. This heritage, in turn, is both integral to the cultural and social fabric of Castlemaine, and of significant and increasing economic value to the Shire. For these reasons we consider that it is critical that the Old Gaol precinct be retained as an uncompromised part of Castlemaine’s heritage landscape, and that any future use and development be undertaken in a way which complements the social, cultural and economic fabric of the town.