Slipper Island on the Coromandel Coast is in the process of being sold for $7.3 million.
Real estate agent at Sotheby's Realty (Cooks Beach) Brian Brakenridge confirmed today that the sale process is underway.
Slipper Island, off the Coromandel Coast. Photo: File.
A contract has been signed and the purchaser is currently undertaking due diligence.
Due to confidentiality issues, Brian is unable to make any other comment, or say who the potential buyer is.
The Island, which is four kilometres from the mainland, has been owned by the Needham family for the last 45 years.
An article in WantChinaTimes.com's business section reports that 217ha of the 224ha island are being sold by Liz Needham, who owns a 61 per cent share.
The buyer is reported to be Auckland-based property developer Wendy Weimei Wu, who made headlines in 2010 when she bought the historic Fairholm mansion in Remuera for $15 million -- New Zealand's biggest private home sale that year.
Sotheby's were advertising the island for sale at $US5.6 million ($7.3 million).
Seven of the 224 hectares of land were sold previously. The remaining property comprises of 217 hectares of land, two suites, four resort houses, several beaches and an airstrip.
The sale process is expected to take a few more weeks.
3 comments
towball
Posted on 17-04-2015 17:05 | By Towball
This is just another example of more foreign ownership that the Government pretends isn't happening like the TV renovation homes where upon Asains where the only ones able to bid !. Where to from here at best we will be renters of mass proportions in our native contry. Time to stop and only let foreign investors lease at best .
Yes
Posted on 18-04-2015 12:46 | By Kenworthlogger
Yes only nz residents should be able to buy land here. Interesting to note the asian buyer was Auckland based though..,,
Wisechief
Posted on 18-04-2015 23:17 | By Wise Chief
We can be sure collaborative Chinese & Asians with their own pooled money lending systems designed to advantage their own peoples place us non cooperating competitive individualistic self-serving Maori and Pakeha at distinct disadvantage when it comes to buying homes or land. Add to this Aussie Banks policy of ONLY lending to Kiwis if they have land and buildings to put up as collateral for loans. Should one bother to investigate one will find Aussie Banks will favour their own and foreigners over Kiwi's first for lending rather support our countrymens efforts to grow their own resident businesses. Seems the favorite pastime of many of these newbie foreigners is to come here and use their greater access to financial horsepower to undermine efforts of locals. Getting hard to finds Kiwis who favour Kiwis let alone Maori who care for Maori etc. Me thinks Kiwi Inc a dying force.
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