The multimillion-dollar Bendemeer development, near Lake Hayes, is on the market more than a year and a-half after the original development went into receivership.
Five sites ranging in size from 0.5ha to 2ha-plus, and with an asking price beginning at $615,000, were put on the market by Sotheby's International Realty at the start of this month.
Sotheby's project marketing agent Myles Green said there had already been "sound interest" in the development.
"It is a renowned development and we anticipate very good inquiries from local, national and international parties and people who had inquired regarding Bendemeer in the past," Mr Green said.
"It's great to rerelease it to the market and to be able to release it at the prices that we have."
Mr Green said the five house sites were among about 21 sites he expected would be released to the market over the next three years.
The original 130ha Bendemeer subdivision development, near Lake Hayes, came under the control of PricewaterhouseCoopers after the $400 million demise of Strategic Finance and its receivership in March 2010.
Former Dunedin man Alistair Jeffery announced that he was the successful purchaser of the development at the end of August.
He had bought a section there in 2006 and had followed closely the receivership and the unsuccessful purchase attempt by Dunedin businessman Paul Nicholson, who had offered $12 million for the development.
PricewaterhouseCoopers confirmed the development had been sold to an undisclosed buyer, for an undisclosed sum.
Senior and mezzanine finance had been obtained through the Bank of New Zealand and equity was provided by Mr Jeffery.
