British colonial military heritage structures in Hong Kong are in a state of ruin and government neglect. Urgent attention is required in the form of active management to avoid the loss of valuable heritage resources and the negative impact on the landscape and environment. This paper explores two possible alternatives – user participation and social entrepreneur participation – to achieve innovative solutions to rent dissipation of these structures situated in isolated areas within protected-area boundaries, with a focus on a specific case. Emphasis is placed on fostering public participation, involving the allocation of some property rights. Elinor Ostrom's diagnostic approach to common-pool resource problems is applied to both solutions to determine the conditions necessary to achieve the objectives. The discussions are informed by social entrepreneurship principles and a version of the Coase Theorem, the latter coinciding with Ostrom's view regarding the role of property rights in achieving sustainable outcomes.