The Marsden City development has been sold to a New Zealand buyer.

And with Winston Peters in the thick of government after promising to bring new port work to Whangarei, the acquisition could be perfect timing for the new owner.

The 83ha Marsden City development, just off State Highway 1 was put up for sale in 2015 after companies behind the scheme - North Holdings Development, NH Infrastructure and North Holdings Investment - were put into receivership.

The development's roading and stormwater system was paid for by the developer and placed in council ownership after being signed off by engineers.

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But in 2014 the Northern Advocate revealed that sections of the stormwater and wastewater systems on the multimillion-dollar development had "failed'', causing pipes and manhole covers to slump, leaving ratepayers with a bill of up to $5.4 million to repair the infrastructure.

Tony Grindle, from Bayleys Northland, said Marsden City had sold to a New Zealand buyer, but the purchaser and sale price would remain confidential.

The sale has been welcomed by Bream Bay Whangarei District Councillor Phil Halse, who said he hoped it would lead to more development in the area.

"We're booming down here. There's development going on all around [the Marsden City boundaries] and I think the sale will now lead to even more development," Mr Halse said.

Ruakaka Economic Development Group chairman Garth Mortensen is looking forward to seeing progress on the site.

He said they were seeing businesses exiting Auckland and wanted to try and attract them.

"The more development we can get out here the better for everyone."

Louie Berkers runs his Full Noise Auto Repair Restoration business form Port Marsden Park, which neighbours Marsden City, and is looking forward to having neighbours.

"It's really great down here to do business. We've doubled in size since we've been here and are putting in a second workshop to cope. It's going off."

WDC has taken Whangarei civil and structural engineers Cook Costello, which designed and oversaw construction of the 83ha development, to the High Court in Whangarei in a bid to recoup cost. The matter is still before the courts.

The effects of acid sulphate soils were to blame for the subsidence in the Marsden City infrastructure and WDC has since started to include information about the soil type in all LIM reports.