Metlifecare also had a conditional contract on the house, which is located immediately behind the RSA, but that purchase was subject to Overseas Investment Office (OIO) approval.
Metlifecare was a New Zealand company but, because just over 25 per cent was owned by Australian bank ANZ's Kiwisaver fund, OIO approval was needed before it could buy residential property.
If the sale was approved the house would be removed to make way for more villas.
The rest of the site was not subject to OIO approval because it was commercial rather than residential.
Garlick said the existing Oakridge Villas village was now complete with strong interest in the handful of homes which had yet to be sold. That had given the company confidence to buy the RSA land, she said.
The site has been fenced off with preparations for demolition under way. The RSA signs were taken down on Friday last week.
Kerikeri RSA members now meet three days a week at the Homestead Tavern.
Earlier this week the Whangārei District Council confirmed it would build a $38 million civic centre on former Whangārei RSA land.
The council bought the Whangārei RSA land and buildings in 2017 for $3.4m.