Allied Farmers has confirmed an unconditional the sale of the 23.3ha Five Mile property, near Queenstown, which it took over as part of the purchase of Hanover Finance late last year.
Confirming the previously announced sale today, Allied Farmers managing director Rob Alloway said the buyer did not wish to be identified at this point.
Mr Alloway also did not say how much was being paid for the bare land, which was the second stage of the Five Mile development, other than that it was "nearing the upper end of the valuation scale".