The land is leased by Wharehine concrete and Tumbleweed at present.
One of the few remaining sites zoned for single house development in Matakana has been sold just days after going on sale last month.
Much of the three hectare block at 939 Matakana Road is currently occupied by the Wharehine/Fletcher Building ready-mix concrete yard and Tumbleweed Nursery, whose leases run until 2029.
However, roughly a third of the land at the rear of the site could be developed immediately, according to selling agent Bayleys, with a potential access off Laly Haddon Place.
The site is next door to Pyrus Grove, the new development of 33 homes going in opposite Matakana Primary School.
Bayleys would only say that the purchaser of the land was “an investor”, and that development of the whole site could only happen before the commercial lease expiry date if tenants were willing to vacate early.