Retail

Our conviction

The complementarity of physical and digital retail(phy-gital) is more than ever the issue of the moment. The old forecast of everything switching over to the internet is not as sure now in this post-confinement era, as people seek to consume in the open air and recover a sense of freedom.

In the difficult economic and social situation of our times, the retail sector has been thoroughly turned upside down over the past few years (‘gilets jaunes’ in 2018, national strikes in 2019, health crisis in 2020). And as a backdrop to this there have been more profound developments in the sector, which first started some years ago with changing consumer trends and the digital revolution. This situation is likely to accelerate changes to the sector, developments in consumer expectations and therefore a renewal of basic concepts. This is going to generate new investment opportunities.

Investment strategy

Our investment strategy is resolutely selective with an orientation toward prime locations for two asset classes that have shown their true resilience:

  • Ground floors: prime city centre location with a vast consumer-base that has a large purchase power
  • Retail Park: prime locations in strong retail parks with proven resilience, especially during periods of crisis

Beyond the intrinsic quality of these assets, the solidity of their leasehold situations and commercial environment projections provided by detailed statistics, the analysis of the solidity of high-street names is one of the principal investment criteria.

The team

Our teams include a high level of retail investment and asset management skills.

Valérie Pares Head of Asset Management Retail

30 years of experience
Asset management team: 8 people

Our publications

Convictions Immobilières - Bilan 2025 et Perspectives 2026
  • Thematic study

Convictions Immobilières - Bilan 2025 et Perspectives 2026
12/03/2026 By Henry-Aurélien Natter

Environnement international : Malgré les incertitudes globales, la croissance résistera en 2026 Malgré des forces divergentes, l’économie mondiale se montre plus résiliente que prévu. Le PIB mondial devrait ainsi progresser de 3,3 % en 2026 et de 3,2 % en 2027. Le secteur technologique et les capacités d’adaptation contrebalancent les effets défavorables des politiques commerciales. La croissance de la zone euro devrait être modérée, à 1,0 % en 2026.

Lire la suite
Real Estate Convictions : Q4 2024
  • Market review

Real Estate Convictions : Q4 2024
11/02/2025 By Henry-Aurélien NATTER

The continued reduction in ECB interest rates, the level of savings amongst Europeans and the recovery of the real estate markets between 2022 and 2024 all point to the potential for improvement and a rebound in the sector.

Read more
Real Estate Convictions : Q3 2024
  • Market review

Real Estate Convictions : Q3 2024
12/11/2024 By Henry-Aurélien NATTER

In October 2024, the ECB announced its third consecutive rate cut to ease its restrictive monetary policy, and we believe that a new momentum has opened up for the European real estate market. Indeed, this quarter we have seen a thaw in certain real estate indicators.

Read more