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Most of the baches at a Matakana tourist property north of Auckland have been bought by a real estate agent who has put them back on the market again with the chain she works for.
Suzanne Browne, an agent at Kellands, said she and her husband Bastiaan Struijck bought 12 of the 17 baches. The national director of Jones Lang LaSalle Hotels, Dean Humphries, said he was involved in the sale.
Ms Browne said they were selling 11 of the places to pay for their deal but keeping one bach for themselves.
Kellands is marketing the places as a "steal".
Mr Humphries said five other baches on the property were owned separately. They had been sold for about $650,000 each.
As well as buying the 12 baches, Ms Browne said she and her husband had also bought the management contract.
Mr Humphries said it was hard to settle real estate in such tough times and he was pleased with the sale.
"The banking system is still fairly constrained so to conclude transactions - particularly in the tourism sector - isn't easy. This sale gives people some degree of comfort that things can still be sold. The market has not come to a complete standstill," he said.
The property is 4km from Matakana and has a jetty, boat ramp, tennis court, pool, managers' house and conference areas. It is in an area with vineyards, cafes, art and craft galleries.
Mr Humphries said the property was now called Riverside Matakana. Kellands is marketing the baches for $369,000 each. In the advertising, lines appear through previous sales of $750,00 and $650,000.
Ms Browne said she and her husband planned big changes.
"Other than the rebranding, there will be some noticeable enhancements including a new stone entranceway. There will be extensive planting surrounding the baches together with a tree planting programme creating additional privacy and visual amenity," she said.
"Baches will also be stocked with local wine and beers at cellar-door prices so guests may enjoy a few drinks while they stay or purchase bottles to take home."
