Kiwirail has sold land originally held for the development of an inter-island ferry terminal at Clifford Bay.
The move comes after the government last year decided not to proceed with developing a terminal on the site, which would have cut transit times across the channel.
The 413 hectare site has been sold to wine grower Peter Yealands for an undisclosed sum.
Kiwirail has owned the land since 1993.
