| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 13 May 2026 |
| Pathway | Residential land development (One-off purchase - Non-residential use) |
| Investment | Acquisition of a leasehold interest in the land situated at 766 River Road, Chartwell, Hamilton. |
| Consideration | $1,230,000 |
| Applicant | UP Education Bidco Limited Cayman Islands 58% Australia 30% New Zealand 6% Spain 6% |
| Vendor | Dommett Family Trust Australia 100% |
| Background | The Applicant is a New Zealand incorporated LLC, ultimately owned by Australian based private equity fund Pacific Equity Partners Education SPV, L.P. The Applicant acquired a leasehold interest in a dwelling on residential land to be used as a training center for its educational activities. This is a retrospective application as the lease interest was acquired without consent under the Overseas Investment Act 2005. The Applicant voluntarily reported the breach to LINZ, which was caused due to a misinterpretation of the Overseas Investment Regulations. Retrospective consent was considered to be appropriate given the inadvertent nature of the breach. Retrospective consent was granted as the Applicant has met the investor test criterion and the Investment is likely to result in non residential use. |
| More information | David Hoare Russell McVeagh PO Box 8 Auckland 1140 |
| Retrospective penalty | $20,000 |