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Colliers Otago listed the 12.6ha site last month and it was estimated that, if subdivided, it could be developed into about 100 residential sections of between 700sqm and 900sqm.
The land, owned by Waste Management, only took about two weeks to sell, there being inquiries from 35 parties.
When contacted, selling agent Matt Morton said the site had sold to property development company Universal Developments, which had other major projects under way in Central Otago.
Mr Morton said the sale process went smoothly and it was great to finish it so quickly