Occupation: Centre Director, Mahon Point Shopping Centre

Background: A 4.5% rise in sales volumes and a footfall increase of 5.5% has contributed to a 99% occupancy rate at the shopping centre.

With the business of Halloween just past and the traffic of Black Friday and Christmas coming steadily into view, these are the relatively peaceful days at the Mahon Point Centre in Cork. Centre Director Justin Young, who started there in 2008, has seen the business go through a variety of changes over that period. 

“The month of December, including Christmas, is still the most important time of the year to us and for us as a business, and will continue to do so for quite a number of years ahead. Consumer spending, in spite of various challenges, is holding up quite well and we are quite optimistic looking forward into the next month and beyond.” 

While the arrival of Black Friday continues to deliver a late November boost, it has lessened in impact over recent years. “Black Friday is certainly important, but as an event is probably losing its wider appeal having gone from originally a day to a weekend and on to a whole week. I would wonder where it will be in five years time.”

Despite the growth of e-commerce, Mahon Point has experienced a 5.5% growth in footfall and a 99% occupancy rate, demonstrating the enduring importance of in-person shopping experiences. “We had an incredibly good year in 2022, post-pandemic, which was probably the case for most in that there was such an amount of savings built up over time. 

In the bricks-and-mortar side of the business post-covid, we have learned the importance of the desire of people to get out combined with the social aspect of shopping. While hybrid working is probably here to stay, we certainly saw how much people wanted and needed the physical experience of shopping and socialising. 

While e-commerce has created challenges over the past decade, retailers in particular want less physical locations - but locations with bigger footprints with better economies of scale. “Online and shops can coexist and have done so for a number of years at this point, and we have invested significant money and time in this space over the past ten years - particularly in the area of sustainability.”

Sustainability

Mahon Point was recognised at the recent Business Energy Achievement Awards, winning the Best Energy Achievement in Retail, acknowledging retailers who have demonstrated exceptional leadership in sustainable energy initiatives. It further highlights the centre’s ongoing commitment to reducing energy consumption and lowering carbon dioxide emissions as part of its environmental strategies. 

By transitioning to renewable energy resources and implementing a zero-waste-to-landfill policy, the centre has reduced its environmental footprint while maintaining operational excellence. “Our goal is not only to reduce our environmental footprint but also to inspire other retail centres to adopt similar strategies.” 

The strategy includes initiatives such as the installation of photovoltaic solar panels, a full transition to LED lighting, and the development of an on-site groundwater well, all of which have reduced energy and water consumption. 

“We also promote eco-friendly transport with EV charging units, expanded public transport options, and bike and scooter services. Alongside these efforts, extensive energy awareness training for staff and engagement campaigns with tenants and the community reinforce a culture of environmental responsibility throughout the centre.” 

In 2015, the centre became the first building in Ireland to be accredited BREEAM (Building Research Establishment Environmental Assessment Methodology certification) — the world’s longest-established and most widely used method of assessing, rating and certifying the sustainability of buildings. In June 2023 the centre was rated “excellent” by BREEAM in both the asset performance and building management categories.

Established in 2006, the weekly Farmers’ Market has become a commercial and social staple of the centre, with over 50 stalls of quality foods, much of it organic, sourced by small producers across the county. The market has won an array of prestigious awards including the Good Food Ireland ‘Best Farmers Market’ award and the McKennas Guide ‘Best in Ireland’ award. 

“Our vision for the Farmers' Market has been to be as plastic-free as possible and fully sustainable. All of the market traders are committed to this and all of the food served at the market is done so in compostable packaging.” 

A project with Cork Urban Soil Project aims to have all compostable waste broken down in a bio-digester that will then be distributed to gardens and growing projects around the city. “We plan to be the first zero-waste market in Ireland. We believe in local food systems and the majority of our stallholders grow, rear, catch or bake their produce within an hour’s drive of Mahon Point reducing food miles and providing the freshest food.” 

The Mahon Point Farmers' Market will be one of the first in Ireland to take this 100% sustainable route.

“Our view is to embrace the younger generation, who are the future parents and shoppers in regards to the decision-making process. The challenge of being responsible and doing as much as we can in the area of decarbonisation of climatic goals certainly does assist in the attitude and support of consumers toward retailers who are active in this important area.” 

Looking to the next decade and the continued growth of Cork, Justin is cautiously optimistic for Mahon Point and its key position amidst the region’s retail scene. “We learned a lot from the pandemic period and the Celtic Tiger period before that, both of which provided different challenges to overcome. 

"We are reasonably confident about the next five to 10 years of the business, and understanding the bricks and mortar and its importance to retailers and customers alike.” 

With a virtually full-house occupancy and constant demand from other retailers to locate there, Mahon Point Shopping Centre is well-positioned to capitalise further on its secure financial outlook. “Our approach has been to maintain a steady growth. And thankfully as sales volumes continue to grow, that is the right place to be.”