The 3036sq m site, containing most of the Warren St floodlit synthetic turf, was one of three blocks at the now-vacant school in Tenby St being disposed of by the Ministry of Education.
It was sold to Ngai Tahu on April 20 for $785,000 plus GST if any, with settlement on June 1.
A Ngai Tahu Property Ltd spokesperson said yesterday the company no longer owned the property as it had been on-sold.
Tenby St resident John McLean confirmed to the Otago Daily Times, after negotiations with Ngai Tahu dating from before it bought the block of land from the ministry, he had bought it from Ngai Tahu for a price "inclusive of GST - in excess of a million dollars".
He and his wife Greer now had 50-50 ownership of the property with neighbours Owen and Averil Wright. Both couples' homes overlook the land and have uninterrupted views of Lake Wanaka.
"Our sole purpose of taking it was to protect our views," Mr McLean said.
The new owners were "in the early stages" of subdividing the land, over which covenants would be placed to ensure views were protected into the future.
They had also just settled a leasing arrangement with the Queenstown Lakes District Council over the property and the synthetic turf courts on it, giving the council "total responsibility" for sporting activities on the land.
The lease would enable the Upper Clutha Hockey Club - which has raised concerns it might lose access to the courts under a new owner - to continue to use the sports facility "on a month-by-month basis, until such time as we decide what we're going to do with the property", Mr McLean said.
It was possible the hockey club and other sports clubs would be able to use the turf "for some considerable time".
"There's not a lot we'll be doing with it over the next few months until we get subdivisions and everything else on it.
"Our objective is to sell it on and the last thing we want to do is hold on to it forever and a day, but being realistic, it's not going to sell overnight, so that gives the hockey club a chance to utilise it as long as possible."
Hockey club coach Sue Telford said after a long period of uncertainty over the fate of the land, she felt "a bit more confident" to hear it had gone to local buyers, particularly people who were "looking over it [the turf] and seeing how much it's used".
"We're still living month by month, but it's encouraging," she said.
The remaining two blocks of land and buildings at the school site in Tenby St were put on the market in April by the ministry.
Land Information New Zealand approved conditional agreements for both properties on May 17, but no information on the buyers will be available until the agreements go unconditional on June 17.
