The Australian Boardriders HQ Is Looking For New Roommates
Bong, Quik and Roxy want to share their 3.33 hectare site with clean and tidy non-smokers.
The iconic house of Billabong, Quiksilver and Roxy at 1 Billabong Place, Burleigh Heads is looking to lease part of their 9,800sqm office space to new commercial tenants.
Boardriders sold their Burleigh HQ for approximately US$26 million back in 2019, leasing back the office space on a 12-year contract from the new owners, a Singapore real estate trust, according to Shop-Eat-Surf.
At the time, Boardriders poured cash into a remodel to accommodate the Quiksilver brand’s operations, the bulk of which relocated from Torquay (sans a small satellite office).
The sale and leaseback strategy is common in business circles because it converts illiquid assets into cash while still retaining use of a property. A wide range of companies have implemented the strategy over the years including Citigroup, Deutsche Bank, AT&T and Bank of America.
As of August 16, several lots from within the HQ’s floor plan were placed back on the market. Property inspections have been ongoing for several weeks, with all staff clearly notified.
The existing brands will likely move to the front of house, sources told us.
This comes as brand management conglomerate Authentic Brands Group, finalizes the deal on the acquisition of the Boardriders Group.
Check out the prime real estate here.
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