The historic homestead was build in 1923 and is surrounded by farm land overlooking the Murrumbidgee river. It was purchased by its neighbours, Tharwa Valley Forge, to help accommodate customers of the bladesmithing school and host events, like December's knife show.

The Forge's owner, Karim Haddad, said demand for the courses had quadrupled over the past four years, leaving little other option but to expand.

"We're now the largest bladesmithing school in the world," Mr Haddad said.

Part of the reason for the purchase of Cuppacumbalong was to accommodate people coming from interstate to attend bladesmithing courses at the school.

Mr Haddad said he was proud to be opening the heritage-listed precinct to the public once again.

"It has a long heritage of developing arts and craft in Australia," Mr Haddad said.

"We're continuing that by trying to diversity the classes we run there. It's going to be a place where people come to create things."

Mr Haddad said a surge in "experience-based tourism" was driving his vision.

"This is hands-on. You're creating something that is going to last 100 years, it becomes an heirloom," Mr Haddad said.

"People want to get back to handmade things, they want to create again.

"There is a need to create again to feel more human. It's part of a bigger movement around the world where people feel joy in making things.

"We're using the beautiful Tharwa as a hub to make something that's really quite an exciting destination not just for Canberrans but for Australians and people internationally."

The vision fits with the ACT government's plan for Tharwa to entice more visitors to the area. The village plan, which was previously criticised by Mr Haddad as reading "like an episode of [television show] Utopia", states "the Cuppacumbalong homestead precinct is recognised as one of Tharwa's most valued historic assets".

Former owner Bruce Gibbs, who has owned the property since 2001, opened the homestead annually to visitors but it remained a private farm-stay business.

He previously told the Canberra Times that if the government wanted it to be a tourist attraction they would need to help fund upgrades and maintenance.

Speaking about the sale, Mr Gibbs said he was happy to pass it on to someone with a vision for the area.

"We were happy to get a sale. It's very positive for Tharwa," he said.

The Canberra Knife Show, on December 3, will be held at Cuppacumbalong and serve as the launch for the new owners. Entry is free.