The former Ohai Golf Club course is among land holdings being sold by financially troubled Solid Energy.
In August, faced with debts of $320million to 1500 creditors, the state-owned coal mining company went into voluntary administration.
The 47ha golf course went on the market last month. Mostly pasture, it had established woodlots of productive and ornamental trees, plus a clubrooms.
PGG Wrightson real estate agent Ian Russell, of Invercargill, said the property had not been used as a golf course for several years.
It would be able to be used as a farming block with some redevelopment including clearing trees, re-grassing and drainage improvements.
The current rateable value was $1million, although he said the market value was "nowhere near that''.
Tenders closed last week.
Mr Russell said several tenders, including "a number worthy of consideration'', had been received and he was awaiting the vendors' instructions.
He would not say how many tenders had been received.
Solid Energy operates two coalmines in Southland, at Ohai and the New Vale opencast mine, near Gore.
The Ohai mine had only a small crew who worked between there and the New Vale mine depending on workload, a company spokesman said.
The company owned about 2200ha of land in Otago and Southland - a mix of mine sites, farmland and forestry.
"It is all for sale and will be marketed in an open and transparent fashion.''
