In general, the railway land was sold to adjoining landowners or leased from Victorian Railways but some land was retained between Kilmore and Heathcote Junction; this is now managed by VicTrack. Where the track passed through state forest, the land was retained as Crown Land. See: History – Friends of the Bendigo-Kilmore Rail Trail
In 2017 a detailed feasibility study was published, investigating the potential for establishing a rail trail along this route, to connect with the existing O’Keefe rail-trail established from Heathcote to Bendigo (Wallan to Heathcote Rail Trail Route feasibility). The un-alienated 1.2km section of line, described above, has attracted the attention of cycling and railway enthusiasts and conservationists alike, perhaps viewed as a symbolic first step in establishing the Wallan-Heathcote rail-trail, to connect with the existing O’Keefe trail from Bendigo.

Working bees on-site to return this trail to a functional walking/cycling track have involved the following groups: Friends of the Bendigo-Kilmore Rail Trail, Mitchell Bicycle Users Group (MBUG) and Wallan Environment Group (WEG). Support has also been provided by the Merri Creek Management Committee/Upper Merri Landcare Facilitator, Chris Cobern (see accompanying weed map photo).

The initial heavy work of improving access from Arkell’s Lane and clearing fallen trees was performed by Bendigo rail enthusiasts. Subsequent working bees have involved volunteers to clear the track and begin cutting and poisoning woody weeds including gorse, blackberry, briar rose and Cape broom. The current status of this land is that it remains under the jurisdiction of VicTrack, with access approval agreements now being negotiated. As with other rail trails, Landcare will likely be contracted to provide more systematic control of weeds. Under such arrangement, Mitchell Shire would be effectively relieved of any management responsibility. Nevertheless the trail should ultimately be recognised as an additional site for conservation and recreational purposes within Mitchell Shire.

^{The image is an overview of the trail, showing weed mapping. The dimensions of the track follow the dotted area, running from above Knight Way to Arkells Lane. The track intersected the road and the railway cutting is visible on both sides of the road, the northern side being on private property. Photo and data supplied by Chris Cobern, Upper Merri Landcare Facilitator; Merri Creek Management Committee.}