PHOTO: Billabong founder Gordon Merchant. Picture Mike Batterham Source: News Corp Australia

Billabong founder Gordon Merchant has sold an Angourie, Northern Rivers investment property.

Merchant, who founded the surfwear company in 1973, paid $680,000 for the three level townhouse opposite the beach in 2004.

He recently sold the two bedroom property furnished for $755,000.

First National Real Estate Yamba agents Jo Boxsell and Dave Grams sold the property which had been advertised as a $650 a week rental.

Merchant owners a mega-mansion nearby, having spent an estimated $12 million to build the three level home just over 10 years ago over three blocks. It has a video camera installed to check the surf.