Big Sky Dairy Farm, near Patearoa in the Maniototo, has been on the market since Labour Weekend after being idle for more than a year.
The 1760ha property is one of New Zealand's largest single dairy operations, and has 3000 cows grazing on it.
Its estimated production for the 2008-09 year is 1.1 million kg of milk solids.
The property, which was placed into receivership in 2007, comprises nine dwellings, three rotary dairy sheds, calf sheds, workshops, and implement sheds.
It includes 1200ha of milking platforms, an additional 560ha of land, and 387ha of leased support land.
The sale includes all buildings, livestock, and more than one million fully paid shares in Fonterra.
PGG Wrightson agent Ray Kean, of Mosgiel, said the property had attracted buyers from throughout the country. Tenders close on November 28.
Mr Kean would not say how many people were interested in the farm, or what its price might be.
The economic climate had lessened the potential sale price, but no more than it had other properties, he said.
"There's certainly people looking at it. It's a quality property and will always be an attractive purchase," he said.
PGG Wrightson acted as an agent for Big Sky receivers last year when it was on the market, but Mr Kean said sales were cancelled and the property was withdrawn weeks before tenders closed.
Big Sky was one of the most ambitious dairy conversion projects in the southern hemisphere until it was placed in receivership in March 2007 by the Bank of New Zealand.
Court action between co-developers Ewan Carr and Rodney Humphries over the $30 million receivership wrangle continues.
It is estimated four companies associated with Big Sky owe creditors more than $30 million.
Big Sky's dairy syndicate formed in 2001 and included Mr Humphries, Mr Carr, and Dunedin businessman Howard Paterson, who died in July 2003.
