Mahon Point Unveils Ambitious €200 Million Expansion Plans for 'Mahon 2.0'

• Cork's premier shopping destination announces major mixed-use development featuring 251 apartments, office space for 580 workers, and enhanced retail offerings as centre celebrates 20th anniversary

Munster's largest shopping complex is set for a dramatic transformation as Mahon Point announces a €200 million expansion that will reshape the Cork retail landscape. The ambitious 'Mahon 2.0' development, revealed today as the centre marks its 20th anniversary, promises to deliver hundreds of new homes, substantial office space, and enhanced retail facilities.

The comprehensive mixed-use development will add 251 apartments, an office block accommodating up to 580 workers, and eight to 10 additional "bigger box" retail units to the existing complex. Planning permission is being sought this week for the phased development, which will increase retail space by 13,000 square metres whilst maintaining the centre's position as Ireland's premier shopping destination outside Dublin's M50.

Peter O'Meara, director of Savills Cork, who has overseen tenanting at Mahon Point for two decades, expressed confidence in the project's prospects:

"It's the country's premier centre outside of the M50, and it will continue to be. When Mahon 2.0 is fully developed, it will have a value close to €500 million in its own right."

The expansion plans include a civic plaza and market square designed to accommodate community events such as the popular weekly farmers market, alongside a new multi-storey car park. Retail enthusiasts will welcome news that the development could attract major international brands, with sporting goods retailer Decathlon reportedly scouting the significant new floor space on offer.

Hendrik Höppner, asset manager for German investment firm Deka Immobilien, which owns the centre, emphasised the long-term commitment to Cork:

"We remain deeply committed to Cork and Ireland for the long term. This project reflects our belief in Mahon's potential as a leading urban centre, combining quality of life, economic opportunity, and sustainable planning."

The development addresses Cork's projected population surge of 50-60% by 2040, with the mixed-use approach aligning with national planning frameworks and local development goals. Enhanced public transport connections feature prominently in the plans, including provisions for the proposed Cork Luas light rail system and expanded bus services.

Justin Young, Centre Director at Mahon Point Shopping Centre, highlighted the community focus:

"For the last 20 years, Mahon Point Shopping Centre has been the heart and meeting place for Mahon's community and the wider region."

The centre currently operates at 99% occupancy following the successful transformation of the former Debenhams space into Frasers and Sports Direct outlets. O'Meara confirmed that if planning approval is secured, all proposed new retail units "will be fully let from the start."

To minimise disruption during construction, the development will proceed in carefully planned phases, ensuring existing tenants and shoppers can continue to enjoy full access to facilities. Pre-planning consultations have already taken place with Cork City Council, the Cork Business Association, and Chamber of Commerce, alongside briefings for senior politicians.

Cork residents will have their first opportunity to review detailed proposals at a public information event scheduled for 8th July in the centre's community room. The German investment firm has demonstrated remarkable confidence in the Irish market, having sold only one Irish asset since acquiring Mahon Point in 2005.

The announcement caps a landmark year for the shopping complex, which opened its doors on 1st February 2005 with a €230 million initial investment. Recent additions include a new Chemist Warehouse mega-store, bringing 25 jobs to the area and reinforcing the centre's position as a regional employment hub.