宝地 has two registers. (1) Sincere: 'a place rich in resources / a blessed land,' often paired with
风水 —
风水宝地 = a spot of excellent fengshui. (2) Polite/flattering: when addressing someone,
贵宝地 = 'your honored place' (your hometown, your shop) — old-fashioned register, common in wuxia or period dramas. Modern flat-out praise of a real place uses just
宝地; honoring the listener's place uses
贵宝地.
