The Shopping Centre industry is driven by people. It’s the skills and expertise of the people that manage, develop and evolve shopping centres for their communities that creates this great industry. Shopping Centre News profiles a range of interesting people from the industry each week. This week we speak to Mike Cochrane, an experienced Centre Manager who has been in the shopping centre industry since 1987. Mike is responsible for Vicinity Centres’ Lake Haven Centre and Armidale Central which are significant community hubs in their local regional towns.
What is your current role and main responsibilities?
My role is Hub Centre Manager for Lake Haven Centre and Armidale Central. I’ve been Centre Manager for Lake Haven Centre for more than 30 years.
How did you get in to this industry?
By chance really. After selling a small retail business and wanting a ‘sea change’ for my (then) new family, I applied for a role as a Shopping Centre Manager on the Central Coast of NSW. Other than knowing the Centre Manager where I had my retail business, I had no idea about shopping centre management. A few questions about the ‘day in the life of a Shopping Centre Manager’ had me as prepared as I could for the interview. With a little luck and a lot of confidence, I got the job, starting off with JLW (back in those days).
Tell us a little bit about your career
I’ve been in retail for most of my adult life. Working in the motorcycle accessories industry and progressing to a part ownership of a motorcycle dealership helped me hone the skills to deliver high level customer service to achieve sales targets.
My next business took me into my other passion, music. I operated an independent ‘Record Bar’ (yes, those were the days!) for a number of years. Been in the Shopping Centre industry since 1987.
Mike says “A Shopping Centre Manager has to be confident in communicating with the centre’s retailers.”
What do you love most about your job?
Great question! So much of the role is enjoyable, but boiling it down, I love being a team leader and working with a great bunch of people. The opportunity to see people start a career and progress to more senior roles within our business or within the industry is a real buzz for me.
What motivates you?
Every day, every month, every year, we set ourselves new horizons and objectives. Business and personal. When you achieve the best outcome possible (for both yourself and your team), that in itself is the reward.
What is your most memorable moment of your career?
If I had to chose, there are two. In 1992 I developed and launched the first loyalty program specific for shopping centres. The program, Shopper’s Reward, quickly grew to capture more than 14,000 members out of a trade area of about 50,000 population. It became a platform to maintain solid sales performance through a major centre expansion in 1993 and also insulated the centre from new and significant competition in 1995. The second memorable moment was convincing the then owners of Lake Haven, a UK based property trust, to take the centre into a development phase in 1993 to ensure market share position and future growth. With no property development experience, I managed to engage a quality team of industry professionals, with the expanded centre (additional 14,000m2) opening on time, under construction cost budget and fully leased.
What do you think makes a successful shopping centre?
Each category of shopping centre will have its own ‘success key’. For a regionally located community centre like Lake Haven or Armidale, it’s all about community. We are here for the community. Embrace the community, support the community and deliver their wants and needs. The centre must be genuinely local in feel. When our customers visit us, they need to feel they are ‘home’. They feel safe and comfortable. They can get in and out easily. They can get all of their everyday needs in one place. The centre is their friend and will always be there. This delivers significant loyalty.
Lake Haven Centre serves as a community meeting place
What are some of the trends you are seeing in the industry?
Having had the privilege of working in this industry for more than 30 years, I have seen a lot of changes across the retail landscape. At Vicinity, our business is all about creating market leading destinations across our asset classes. Each asset class will have its own unique driver of visitation. For community based centres, the trend is delivering new and exciting food and beverage precincts, entertainment and leisure precincts and a broader range of personal and community need services, such as child care, medical or professional services.
What advice would you give to someone starting in the industry?
Be passionate. Be prepared for hard work! This game is very dynamic and you need to be prepared to ‘spin on a dime’, without dropping the ball. The rewards are there for those who want to be challenged.
What do you do in your leisure time to de-stress?
My lifelong passion for music (although I can’t play an instrument!), and motorcyles (although I no longer own a bike!) are two stress busters… oh, and the odd glass of quality red!….but, my life is now all about my grandchild. Wonderful!
What’s your favourite retailer and why?
It’s crazy to say, but I’m not a shopper. Hate it! But I love the industry. I love the way it ticks. However, if I had to choose, JB Hifi… just spending time in one of their stores.
What is the single most important quality you need to possess to be in this industry?
A Shopping Centre Manager has to be confident in communicating with the centre’s retailers. You have to understand retail. You need to ‘deep dive’ into the mind of a retailer in order to gain their confidence that you are not just working for the ‘Landlord’. You are also working with them as a genuine business partner.
