The Otakou runanga is keen for access to the property to remain after any sale and Otakou kaumatua Edward Ellison said he expected Ngai Tahu would consider buying the property.
Overseas Investment Office manager Annelies McClure yesterday said the Natures Wonder property, as a non-urban property larger than 5ha, was sensitive land under the 2005 Act.
That meant an overseas person would need to obtain consent before they could buy it.
‘‘To obtain consent, they would need to meet certain criteria in the Act and demonstrate, among other things, good character, relevant business expertise and financial commitment, Ms McClure said.
‘‘They would also need to show that their purchase of the property is likely to benefit New Zealand in some way, such as the retention or creation of jobs.''
The Natures Wonders tourism and farming operation was listed for tender both nationally and internationally with New Zealand Sotheby's International Realty.
Perry Reid, who bought the property in 2001, said on Tuesday it was time for someone with more resources and a budget behind them to continue the tourism and farming operation.
He said yesterday he was well aware the land was classified sensitive under the Act, and was not concerned about it.
‘‘It's going to be kept as a tourism operation and it may be sold in New Zealand rather than overseas. I would prefer New Zealand owners.''
Contacted yesterday, Mr Ellison said loss of access to a site to which Maori were historically connected could be a concern.
‘‘Certainly, there is a lot of cultural attachment to that area historically, no question.
‘‘The way it's being advertised it seems to be targeting beyond a New Zealand audience. It raised, in my mind, the possibility it could be bought by an overseas buyer and that would potentially have concerns for us in terms of access.''
Ancestors had lived on the property and there were burial grounds there.
While there was limited access now to the commercially run property, he said he expected Mr Reid would be ‘‘quite OK'' if access was requested.
‘‘We would hope that same arrangement would continue into the future with new owners.''
Asked if he thought Ngai Tahu might buy the land he responded: ‘‘Early days''.‘‘Obviously, they will be assessing it.''
