New Zealand island bought by Chinese housewife as 'a toy'

An ariel view of Slipper Island. (Internet photo)
A beautiful small island near the Coromandel peninsula on New Zealand's North Island was recently sold to a Chinese woman for US$5.6 million, reports the Hong Kong Daily News.
Slipper Island, four kilometers off the North Island, had been owned by the Needham family for the last 45 years. Liz Needham, who owns 61% of the share, approved the sale in the face of some opposition.
Seven of the 224 hectares of land on the island had previously been sold off. The family is selling the remaining property, comprising 217 hectares of land, two suites, four resort houses, several beaches and an airstrip.
Contracts have been signed for the property, which had a price tag of US$5.6 million, according to realtor Brian Brakenridge, who added that it will take approximately a month to complete the purchase.
The buyer, listed as a Ms Wu, is a self-declared housewife who previously made headlines when she bought a mansion in Auckland in 2010, the biggest private home sale of the year.
Wu's daughter said her mother loves the island and that it is "a toy for her." Wu and her family have not decided what they are going to do with the island yet.

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