| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 14 June 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 0.4789 hectares of land at 65 Swanson Road Henderson, West Auckland. |
| Consideration | $7,140,000 |
| Applicant | Academy for the International Community NZ Limited Shingo Mitsuda, Japan (59.603%) Daiko Mitsuda, Japan (25.467%) Hosen Mitsuda, Japan (6.53%) OSHU employee stock program, Japan (4.2%) OSHU individual employee stockholders, Japan (4.2%) |
| Vendor | Bun Ji Kim and Kyung Il Son New Zealand (100%) |
| Background | The Applicant is wholly owned by Oshu Corporation Inc., a company incorporated in Japan. The Applicant operates Auckland International College (‘AIC’), a private school for New Zealand and international secondary students. AIC is the only New Zealand school where all students study only the International Baccalaureate Diploma. The Applicant intends to convert the existing motel accommodation into boarding accommodation for its students. It will allow the Applicant to continue to provide sufficient accommodation for its international students. |
| More information | Tim Grace Hornabrook Macdonald PO Box 91845 AUCKLAND |