A multimillion-dollar prime spot of land close to the centre of Rotorua has sold but mystery surrounds to whom and why.

The large, vacant site on the corner of Malfroy Rd and Ranolf St went up for sale last month, with tenders closing on March 22. It was sold four days later.

Colliers International agent Mark Rendell said 10 tenders were received from prospective buyers all over the country, which was a great result for the sellers given it was such a large piece of land.

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"Because it was a site of about 20,000sq m that knocks out a lot of people."

The large section of land on the intersection of Malfroy Rd and Ranolf St. Photo/file
The large section of land on the intersection of Malfroy Rd and Ranolf St. Photo/file

He said the buyers were not yet wanting to go public but details of what they had planned would hopefully be revealed soon.

The site was formerly owned by the Church of Jesus Christ of Latter-day Saints, after its plans to build a church there never eventuated.

It was also previously the site of a transit camp for families awaiting state housing before the Voyager Resort Hotel was put there between 1983 and when it was demolished in 1988.

It has had a few owners since, including a Japanese businessman who intended to build a hotel on the site before his plans were crushed by a market crash. The site has been empty since 1988.