Boardriders global president Greg Healy said the sale is in line with the company’s strategy to focus on its core business and free up cash to invest in its brands.
“Importantly, under the sale and lease back arrangement, we will secure Boardriders long-term occupation of the property including the office, store and warehouse area,” he said.
The surfing brand Billabong was almost wiped out from the market before Boardriders purchased it for $198 million this year.
The offering, located adjacent to Stockland’s Burleigh Heads Shopping Centre, comprises a retail store, showrooms, warehousing, car parking and office space for more than 200 people.
Knight Frank’s Mark Witheriff and James Branch have been appointed to sell the asset with a long term lease over the entire property via an expressions of interest campaign closing on 6 December.
The announcement follows earlier decisions by Boardriders to maintain office presence in both Burleigh Heads, Queensland, and Torquay, Victoria.