BOC moves to Penrose base

By ANNE GIBSON

BOC Gas has leased industrial space at the new Gate development in Penrose.

BOC has signed a six-year lease and will move its Penrose-based logistics centre, BOC Safety of East Tamaki and Nelson-based Weldstar to a building being constructed by Haydn & Rollett at The Gate on Neilson St.

Weldstar, a division of BOC, imports welders, welding equipment and waterblasters and its main customer base is in the north of the North Island, says BOC development manager Dan Ramage.

The Gate industrial park is projected to be worth $118 million when completed and is being developed by Australia's Macquarie Goodman Industrial Trust.

About 20 staff will move to the new, two-level 3400sq m office/warehouse development next month.

BOC general manager Sue Dale said the divisions would move because they had outgrown their older-style premises. BOC's operations and head office is on Great South Rd at Penrose.

Macquarie Goodman's development manager, Brett Schofield, said others who had leased space at The Gate included BJ Ball, Carter Holt Harvey, Yates and Rapak.

The trust bought the Central Park office development at Penrose for $52 million late last year, taking its investments in New Zealand to nearly $100 million.

But it plans to spend a further $80 million and is just one of many listed Australian property businesses keen to buy New Zealand property.

The largest specialist industrial real estate trust in Australia is run by Craig, Patrick and Gregory Goodman, sons of former Nelson baker Sir Pat Goodman.