China's Shanghai CRED Real Estate has bought Peppers Carrington, one of Northland's most luxurious resorts.
A statement just out from the buyers said the purchase would result in a major boost for tourism because a big expansion and international marketing efforts were planned.
The 1000ha resort overlooking the Pacific has an 18-hole golf course, is four hours' drive from Auckland and has been sold by American Paul Kelly, according to the statement.
Shanghai CRED Real Estate said it was one of the largest real estate developers in Shanghai, with more than 50 projects completed.
