However, Colliers International managing director Simon Clark, who sold the land, buildings and business, said the camp had been bought by an experienced developer who was in the process of a feasibility study for a mix of apartments and stand-alone housing on the property.
The same developer had also bought an adjoining residential property in Paterson St, taking the total land area to 10,000sq m.
Following settlement, Mr Clark said an interim camp manager would be appointed for the summer with no long-term bookings being taken beyond March or April 2016.
Andrew Mead, strategic planner at Tauranga City Council, said the Golden Grove site was zoned suburban residential, allowing for development of up to one dwelling per 325sq m of land.
"However, this site may be suitable for more intensive redevelopment due to its relatively large size and prominent location amongst other things. This would require the developer to seek a resource consent, a change of zoning or a special housing area."
In a letter to the editor, camp resident David Liddall, who has lived in a bus at the park for the past nine years, described the sale as "a tragedy".
"I've enjoyed a remarkable array of individuals and groups passing through in those years," he said. "It's been kept impressively clean and secure over the years."
The camp had hosted school groups, including the AIMS Games, kapa haka groups, hot rod clubs, Highland bands and many sport and family groups.
"It makes me wonder where all these people will go from now on? I wonder if we'll begin losing these groups as the development here intensifies and the economics force the camper out of the area."
Watching permanent caravans being sold off or moved was difficult.
"Watching the place steadily emptying is an incredibly sad process. It is the closing of an era, the disintegration of a safe and friendly community."
Auckland resident Paul Jeffries and his family had camped at Golden Grove for the past 14 summers but received news via email the park had been sold.
The family was aware the camp was up for sale and Mr Jeffries expected its location and the value of the land would see it snapped up by developers.
"It was a great place, we had a lot of good times there," he said.
Tourism Bay of Plenty general manager Rhys Arrowsmith said the region was growing so rapidly in tourism and permanent residents there was a tension between the best commercial use of available land.
"With real estate demand at an all-time high and supply at an all-time low I understand the investor's investigation into the best use of this land. It will be sad to see Golden Grove go, and I'm sure the owners haven't made that decision lightly. We hope those families who have been visiting Golden Grove will now take the opportunity to discover new traditions and gems in the Bay."
Nearby Cosy Corner Holiday Park in Oceanbeach Rd closed on August 1 this year and will re-open for the summer on December 20, through until Easter, also opening for Labour Weekend.
During the off-season the holiday park will consider large bookings, including the AIMS Games, or groups with a four-night minimum stay.
Greg Davidson, whose family has owned the camp for 48 years, said it was time for him and partner Vicki to "take a bit of a break".
Mr Davidson said the cost of operations during winter were high, while the expectation was tariffs were lower.
"When you weigh up your power and all your costs that are going up, you can only hand on so much to the customer."
Annual sites where people parked their vans year-round would still be operating but were at capacity, he said.
Mr Davidson said the loss of Golden Grove would be "pretty big".
He had already turned away AIMS games visitors - who always stayed at Golden Grove - as he was full with his own games contingent that returned to the camp every year.
He had also turned away annual campers hoping to shift their vans from Golden Grove to permanent sites at Cosy Corner.
Mr Davidson said there used to be six holiday camps between his and the base of Mauao, but only one remained.
"The land's just too valuable unfortunately. Unless you've got a big camp they're not really that viable."
General manager at Papamoa Beach Resort, Rebecca Crosby, whose family will celebrate the camp's 50th anniversary next year, had faith in the future of the great Kiwi camping holiday.
"There's absolutely no worry about the good kiwi camping holiday going anywhere," she said.
While it was "a shame to see Golden Grove go" Miss Crosby said there was enough accommodation in the region and regular guests understood the need to book early.
Besides a window of 12 to 16 days over the Christmas and New Year period, when accommodation was "chock-a-block", the Bay of Plenty did not have capacity issues when it came to accommodation or camping.
"There is still availability to get into holiday parks and motels in the second part of January," she said.
The beachfront land the Papamoa camp sits on is leased from the TCC.
Mark Hales, team leader at Mount Maunganui Beachside Holiday Park, which is owned and run by council, said the camp was "going really well".
September had been busier than the last and October was tracking the same way, he said.
The camp, at the base of Mauao, had vacancies from January 10, he said.
Mr Hales said quite a few people would be looking for accommodation elsewhere following the closure of Golden Grove.
"Getting it over that Christmas period will be hard. It's those families that have been with Max (Sullivan) all those years," he said.
