A ghost town in Canada’s westernmost wilds has been sold to a Chinese real estate developer who intends to bring it back to life, according the realtor.

China Zhong Ya Group Hebei Canada-China Co beat out bidders from around the world, real estate agent John Lovelace said in a statement.

The sale of Bradian, 230km (142 miles) north of Vancouver, closed on 29 December 2014. It includes 22 homes, vacant lots, streets and fire hydrants on 50 acres.

“The company told us they plan to rehabilitate the town but I think they are prepared to take the time to plan everything out first,” Lovelace said. “That planning process will undoubtedly take considerable time.”

The asking price was just under Can$1m ($840,000). The actual sale price was not disclosed.

Several Canadian towns have been put up for sale in recent decades after being abandoned following the closure of a local mill or mine. Others were levelled.

In the 1930s, Bradian was home to workers from the nearby Bralorne gold mine but they and their families left after the mine closed in 1971.

Then in 1997, a couple touring the region reportedly stumbled upon Bradian and decided to buy it, using it as a summer retreat. But after their two children grew up, they decided to sell.

The area offers good snowmobiling or skiing in winter or fishing, boating, swimming and hiking in summer.

Lovelace said the sale to a Chinese group is indicative of a new trend involving foreign investors: Chinese buyers looking beyond condos and single-family homes in Vancouver to invest in farms, ranches and other rural businesses throughout the province “and in this case, an entire town!”