There's a bit of inaccurate information on here, no doubt not deliberate. I live in Captains Flat, and I'm a Councillor on Palerang Council.
The lease on the station has not just expired, it has been vacant for about 2 years.
Yes, ARTC illegally demolished the loader, and the resulting community outcry resulted in some restitution work. Completed (almost) by John Holland Rail as ARTC no longer have the contract.
The turntable and ash pit have been cleared of weeds and shrubs, fenced for safety, and viewing platform and path built.
A shelter has been built over the scales (where the loader was) and it incorporates the roof trusses from the loader. Interpretive signage has yet to be erected, but are coming.
We now refer to this areas the rail heritage precinct.
The station will hopefully be leased to Palerang Council as stage 2 of the project. Demolition shouldn't even be mentioned. The station is in perfect condition. The only problem I can foresee is the asbestos roof tiles, which are in poor condition (but still water proof) and probably need to be replaced. But how to replace asbestos roof tiles with something that looks similar, or is sympathetic to the heritage?
The rail trail enthusiasts love the landscape the line runs through, and are extremely enthusiastic about a rail trail. too enthusiastic probably, as they are frightening the horses (the landholders). The rail is still in place, and so are most of the sleepers, for as much of the track as can be seen from roads, which is rather a lot of it. The first few km pass through Crown Land and would be a really easy conversion, but the rail trail enthusiasts want the whole 32km. We'll see about that...
Yes the town is very sleepy, but rail heritage buffs visiting (and potentially rail trail enthusiasts in the future) could help turn that around. The town is not big enough to support many businesses, but lots of visitors could change that.
Happy to answer any questions.