China's Shanghai CRED Real Estate says it has bought the 1000ha Peppers Carrington golfing resort on the Karikari Peninsula in the Far North from American Paul Kelly.
The Chinese business said it had big plans to expand the resort and market it overseas, particularly in China.
The buyer said it would target high-income Chinese tourists, drawing on its experience in creating and marketing other mixed-use developments, including hotels, golf courses, residences and conference centres.
The Chinese also plan to upgrade and expand an existing 188ha vineyard, which already exports its products to China.
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Shanghai CRED general manager Guo Gui said Peppers Carrington could provide the sort of holiday experience wealthy Chinese and other international tourists were seeking.
The seclusion of the property was viewed positively by that segment of the market, as well as the opportunity to enjoy a beautiful natural environment, white-sand beach, a golf course and wines from the vineyard.
He said affluent Chinese tourists tended to use Chinese tourist agencies, which preferred to recommend Chinese-owned resorts internationally.
The Campaign Against Foreign Control of Aotearoa has campaigned for years to stop big deals like this, saying it is not in New Zealand's interests.
The campaign believes the independence of most countries is being eroded because most of the world's economy is now owned and controlled by a relatively small number of big corporations.
Campaigner Murray Horton said the Peppers Carrington sale would mean that part of Northland would become a Chinese enclave.
Mr Horton said the campaign would have the same objection if it was an American, Japanese, Australian or British-owned resort.