We'd like to keep it

Family sale/transfer Question.

I know there've been a few ownership transfer questions lately though none seem to fit our situation. So here it is.

My father has decided to shut up shop so to speak, sell the family business's property then basically live a retired life. He has owned it for 42 years and would dearly like to keep it but maintenance and dwindling profit are taking their toll.

The property is opposite a station 5 km of Melbourne's CBD, in what has fast become a very trendy café location. The land must be at least 3,000 m2, of which half is vacant, we assume a value of around $2M. He would then live off the invested interest/dividends etc, so a transfer without any real cash changing hands would not suffice.

What would be the best options to minimize capital gains tax, and/or keeping it or part of it in the family while minimizing fees and additional taxes ?
Could it be wrapped to a family trust ?
I'd like to buy some or all of it but there's one too many zeros there at the moment, is it possible ?

I'm hoping for all possible options.
Thanks guys.