Case Study


Due diligence work on Carrefour anchored retail galleries.


Due diligence work for PIMCO on Carrefour retail galleries.


PIMCO engaged Javelin Group and its associate partner, MHE Consumer, to carry out due diligence work on a portfolio of Carrefour anchored retail galleries, which contained 56 assets in France, 63 in Spain and seven in Italy.


With contribution from MHE Consumer, Javelin Group was able to provide insight on:

  • The current state and future prospects of the retail market in France and Spain with a specific focus on the grocery sector and the strength of the hypermarket format
  • The strength of the portfolio in terms of:
    • Economic growth prospects for the catchment each asset serves
    • Dominance of each asset of the local retail landscape
    • Performance of the Carrefour store

Thanks to Javelin Group and MHE’s experience of the French and Spanish markets, they were able to provide valuable insight into the state of the retail and grocery market at a national level and also regional and local variances. Their ability to assess multiple locations at a sufficient level of detail to draw out any concerns was vital in helping us make important decisions about whether to proceed with such a significant investment.
Laurent Luccioni, Head of Commercial Real Estate, PIMCO.

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Contact  Robin

Contact Practice Director

Robin Bevan

Director, Location Planning

Robin Bevan runs our Location Planning practice. He has over 25 years’ experience in retail property, including location strategies for retailers, geographic channel strategies for brands, shopping centre strategies for developers and owners, due diligence for private equity investors and commercial space planning for travel hub operators, and has wide international experience, having worked in 20 countries. Robin is a PPE graduate from the University of Oxford and is based in London.