Construction company Calder Stewart has been confirmed as the new owner of Carisbrook in Dunedin.

The Dunedin City Council has confirmed its agreement with the company to buy the old sports ground went unconditional today.

Calder Stewart has consent to demolish all grandstands - including the hospitality complex - at the site, leaving only the category one-listed Neville St turnstile building.

Dunedin Mayor Dave Cull said the company would be refunded $200,000 as long as all buildings, except the hospitality complex, were demolished within six months.