No buyer has yet been found for the 172ha Natures Wonders property at Taiaroa Head, which was put up for sale in February.
The tourism and farming operation was listed for tender with New Zealand Sotheby's International Realty and marketed nationally and internationally.
Tenders closed on April 15.
Owner Perry Reid said in February it was time for someone "with more resources and a budget behind them'' to continue the business.
The land is sensitive under the Overseas Investment Act, meaning an overseas person would need to obtain consent before they could buy it.
Yesterday, Sotheby's sales associate Matt Finnigan, of Queenstown, said the property was still on the market.
"We didn't get any acceptable tenders out of that process.
"We're working ... with the parties that did come forward,'' he said.
The number involved was commercially sensitive, but "we're not talking about dozens''.
There had been interest locally and from offshore, but "these things take time''.
