Former Miami Smash Repairs owner Jamie and Sharon McHugh to sell large property holdings in Burleigh Heads on Gold Coast

The former owners of a large panel beating business are selling their large property holdings in Burleigh Heads in the wake of the sale of their business.

A large commercial holding in Burleigh Heads — home to Miami Smash Repairs — has hit the market. Picture: Jerad Williams

FORMER Miami Smash Repairs owner Jamie and Sharon McHugh are selling their large property holdings in Burleigh Heads in the wake of the sale of their business.

Mr and Mrs McHugh ran Miami Smash Repairs between 1982 and 2016 before the sale of the business to Perth-based Danny Buzadzic. Mr McHugh was a well known motor racer who won the Australian Super Sedan Championship in Adelaide in 2010.

Miami Smash Repairs’ location forms five of seven parcels Mr and Mrs McHugh purchased between 1987 and 2003 at 4-16 Hibiscus Haven for a total outlay of $1.92 million.

The panel beater business, located at 6-14 Hibiscus Ave, is on a five year lease expiring in November, 2020, with a five-year option.

Properties at 4-16 Hibiscus Haven, Burleigh Heads have hit the market.

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Tenants at 4 Hibiscus Haven include Rump on the Run, Black Hops Brewing and Organic Paws. Lease terms range from month-to-month to three years with options.

The property at 16 Hibiscus Haven is leased to Alroe Constructions on a two-year term starting in March this year with one two-year option.

Total net passing income for all seven properties is $333,516.

Colliers International Gold Coast director-in-charge Steven King is marketing the property together with Adam Young, of Black & Young.

Jamie McHugh, former owner of Miami Smash Repairs, is selling his commercial holdings in Burleigh Heads.

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Mr King said he expects strong interest from both investors and developers.

“It is an investment property but there are a number of short-term leases so that does open it up to someone looking to redevelop at some point,” he said.

The area is zoned light industrial, however, Mr King said, food and beverage businesses have opened on the street recently such as The Paddock Bakery.

“The precedent has been set on that street to alternate uses.”

Together the properties occupy a land area of 5430sq m and have a net lettable area of 3346sq m.

The largest property is at 4 Hibiscus Haven, which is an industrial complex with a total lettable area of 652sq m. The property consists of three warehouses with cold storage space and a two-bedroom residential flat upstairs. Black Hops Brewing uses cold room storage in one of the warehouses that backs on to its brewery off Gardenia Grove

The smallest property is at No. 10 and contains a fully-leased single-level office and workshop used by Miami Smash Repairs with a total lettable area of 287sq m.

An auction will be held on August 14 at the Colliers offices at Circle on Cavill at 11am.