Major Canberra high-rise developer Geocon has bought the lease for the Phillip Swimming and Ice Skating Centre.
Speculation had been rife over recent years about whether the site would be sold to an apartment developer, as blocks around the site has been developed into high-rise units.
However, a spokeswoman for Geocon said the developer would continue to operate the ice skating rink and the pool. Both facilities are in need of renovation.
But the ACT government is building a new ice skating rink in Tuggeranong, and the Phillip pool has not opened for the past two years.
Under the current lease conditions for the site, there must be a 50-metre pool and ice skating rink. The proposed Tuggeranong facility could change this as the ACT's territory plan states there only needs to be one ice skating rink in Canberra.
If a lessee chose to redevelop the pool, it would have to include a publicly available indoor pool but it would only need to be 25 metres.
An ACT government spokeswoman said Geocon had not pursued a lease variation since taking ownership of the block.
It was confirmed in the days after Christmas that the lease for the site had been sold by long-term lessee Wayne Houghton, however, at that time, the pool's manager, John Raut, could not say who bought the lease.
Woden Valley Community Council president Fiona Carrick said she was disappointed the lease had been sold to a developer and not a community-focused entity.
She said the council had concerns about whether a 25-metre pool would be able to service the community.
"It's very odd that there has been a lack of transparency about the sale," Ms Carrick said.
"We are concerned about whether there will be enough capacity in a 25-metre pool to service the many users of aquatic facilities in the region, including swimming lessons, casual and competitive lap swimmers, water polo, scuba diving, aqua aerobics and so on.
"We would also like an outdoor pool and the benefits of co-locating complementary facilities such as a gym, fitness rooms, cafe and meeting rooms."
The pool's closure over the past two summer seasons has also been a point of contention for the community.
This year's closure was blamed on wet weather, which had prevented the pool from being re-painted and re-opened in time for the summer.
The closure breached the conditions of the lease and late last year Sports Minister Yvette Berry wrote to Dr Houghton "seeking clarification on when the swimming will open to the community for the 2022-23 season".
"The government has continued to ask the operator of Phillip pool on when its maintenance works would be completed, and the pool reopened and has not received a satisfactory response to date," a government spokeswoman said last month.
Geocon has told The Canberra Times in a statement the company was working on rectification works for the pool to become operational.
The developer said it acquired the site on December 16. Documents list the owner as NG Landholdings No. 20, which is owned by Geocon director Nick Georgalis.
Dr Houghton had held the lease for the ice skating rink and pool since 1979.
In 2017, Canberra Town Planning made a submission on behalf of Dr Houghton to a parliamentary inquiry on zoning changes in the Woden town centre.
The submission argued for more flexibility in what can be developed.
The ACT government is supporting a development put forward by two private companies to design, build, own, operate and maintain a new ice sports facility in Greenway.
Ms Berry announced in November the government had signed a "heads of agreement" with Cruachan Investments Pty Ltd and its development partner Pelligra Holdings Pty Ltd.
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