Social support: Boardriders backs $13 million plan for its former Torquay HQ

IP GENERATION are ready to start turning the former Quiksilver headquarters in Torquay into “Surf Coast Social” should the Surf Coast Shire approve their plans.

The Melbourne-based real estate investor wants to spend more than $13 million at the Baines Crescent site to create a co-working hub, a large hospitality venue and a cinema complex.

Quiksilver owners Boardriders are eager to maintain their presence in Torquay and have committed to occupy space within Surf Coast Social under a 10-year lease.

The site’s redevelopment will include upgraded office spaces for about 80 of the company’s employees.

IP Generation owner Chris Lock says they were ready to act if the shire gave them the answer they were hoping for.

“We’re ready to go on this project now. Should we get our approvals in place in the coming month we’ll be announcing our tenant commitments and investing in excess of $10 million immediately, making this a reality before the end of 2020.”

If the shire does accept the plan, the coworking hub will be operated by Workspace 365, with the potential to house more than 400 office tenants.

Mr Lock said he was excited by the prospect of what the site could be.

“You’ve got one of the most iconic businesses and brands to come out of Australia and they’ve chosen to anchor themselves here with their creative department. So I feel like we’ve got an opportunity to build a hub of entrepreneurship around one of the most iconic surf brands in the world.”

IP Generation purchased the site for a reported $15 million last year after Boardriders acquired Billabong and moved the Boardriders head office to Burleigh Heads.

Boardriders Asia Pacific chief operating officer Andrew Bruenjes said the Torquay site became an important satellite office occupied by Quiksilver’s creative teams following the acquisition and relocation.

“The Quiksilver brand is synonymous with Torquay.”

IP Generation also says that if Surf Coast Social gains approval in December, it will fund a new high-speed internet link connected with Deakin University and Surf Coast Shire “with the fastest internet anywhere on the Surf Coast”, according to Mr Lock.