Lochinver Station in the central North Island, has been sold to a New Zealand buyer.

It's been sold for an undisclosed sum to privately owned New Zealand farming group Rimanui Farms Ltd.

In September, the Government rejected an application from Shanghai Pengxin to buy the station despite the Overseas Investment Office recommending it be approved.

Bayleys Real Estate recommenced marketing the property last month after it was rejected.

Rimanui Farms Ltd. will take over ownership of the 13 thousand 843 hectare sheep and beef station upon settlement of the sale in March next year.

The farm is currently owned by the Stevenson Group.