The former owner of a Toombul Shopping Centre newsagency has branded property developer Mirvac “a complete disgrace” for its treatment of small businesses.

Mirvac has brought redevelopment plans forward, arguing the damage from February’s floods was too substantial to repair.

It meant the leases of all businesses at the Nundah centre were cancelled immediately with no compensation, leaving many owners massively in debt and with no income.

Shane Griffin, who owned the Nextra newsagency in the centre for almost three decades, estimates he stands to lose $4-5 million unless he pursues legal recourse because he can’t physically move the store under lottery licence rules.

He told Scott Emerson Mirvac should be “highly embarrassed” by its dealings with small businesses in light of the values published to its website.

“It’s one thing to rely on the legal lease, the legal wording of the lease, it’s another thing to have a moral compass and I think Mirvac failed miserably,” he said.

“I think they are unAustralian, unethical, immoral and a complete disgrace to corporate Australia.”

He said a number of ousted business owners have met with lawyers and plan to pursue legal action together.

“We’re working together on that as a team and we believe we’ve got a couple of points of law where we can take them on.

“We have not even started about what we’re going to do with Mirvac. We’ve got our lives ahead of us, with nothing left, to take these guys on.”

Press PLAY below to hear Shane Griffin’s impassioned interivew in full