This article is from the Australian Property Journal archive
SURFWEAR company Cult Industries has put its headquarters West Burleigh building on the market.
Cult, headed by long-time surfing identity Doug Spong, is selling the Burleigh Connection Road property to downsize.
CB Richard Ellis’s Mark Witheriff and Kristian Dick are marketing the property through an expressions of interest campaign that closes on October 22.
Witheriff said Cult no longer needs a distribution centre that forms a major part of the headquarters building.
“The offshore manufacturers who make products for Cult are now shipping those products direct to Cult customers hence the West Burleigh distribution centre has become far too large for Cult’s requirements,” Witheriff said.
The Cult building is split-level and includes 3800 sqm of free-span warehousing; 750 sqm of office space; 700 sqm retail area; 1380 sqm manufacturing floor; and parking for 179 cars.
Dick said the Cult HQ was purpose-built for the eight-year-old company and opened in early 2006.
The building has an internal showroom for product displays to retailers and Cult distributors that includes a catwalk, plunge pool, and bar and catering facilities. A boardroom with state-of-the-art conferencing capabilities seats 40.
Dick said the Cult building’s position close to Reedy Creek Road gives it major exposure to traffic, with 34,000 cars passing daily.
“It’s perfect for a national business wanting major warehousing space with a complementary and highly-visible retail area,” Dick said.
Spong has been in the surfwear business for nearly 40 years. In the late 70s wetsuit manufacturer Rip Curl employed Spong to run a new clothing and accessories division. And in 1987 Billabong founder Gordon Merchant offered Spong a licensing agreement to expand the company’s product range.
Spong later bought two small surf-industry labels and went on to group them under the Cult Industries banner. In the same year, 2001, he paid $1.21 million for the 9357 sqm site at 225 Burleigh Connection Road on which the Cult HQ today stands.
Australian Property Journal
