Carrefour and Nexity join forces to upgrade 76 Carrefour sites in France

Carrefour and Nexity join forces to
upgrade 76 Carrefour sites in France

Paris, July 06, 2023, 17:45 CET

As part of the Carrefour 2026 Strategic Plan unveiled last November and its ambition to capitalise on its property portfolio in France, Carrefour has teamed up with Nexity for a series of urban mixed-use operations. 76 sites across France are concerned by the scheme. These transformation projects cover all formats developed by Carrefour, including hypermarkets, supermarkets and convenience stores, and respond to societal changes with a focus on achieving three key ambitions:

- Continue to integrate Carrefour centers into neighbourhoods redeveloped in consultation with elected representatives and local authorities

- Develop schemes adapted to their surroundings by integrating mixed-used programmes into existing land-take sites

- Support the ecological urban transition by creating new green spaces and promoting local non-mechanised forms of transport

This long-term partnership will enable Carrefour and Nexity to develop mixed-used programmes with high environmental performance for housing, serviced residences, retail outlets, offices and hotels. Forty city-centre sites will be fully redeveloped, with the reintegration of a food sales area. The other thirty-six sites, located on the outskirts of towns and cities or in commercial areas, relate to existing parking spaces which will be reassigned to urban projects. The seventy-six sites cover approximately 800,000 sq.m. of land, and their development will lead to the creation of 12,000 homes, 120,000 sq.m. of retail space, with the reconstruction of selected stores, 10,000 sq.m. of office space and businesses and 17,000 sq.m. of hotels.

The property venture, known as a “véhicule de portage foncier”, which is expected to be up and running by the first quarter of 2024 at the latest, will be 80% owned by Carrefour and 20% by Nexity.

Alexandre Bompard, CEO of the Carrefour Group says: “This ambitious urban redevelopment programme will enable us to fully realise the value of our property portfolio and our assets to recreate a more vibrant, diverse urban fabric around our commercial areas. Thanks to our partnership with Nexity, we will benefit from the expertise of a leading group in the sector and urban mixed developments. The project also reflects our commitment to the ecological transition, helping us to make the best possible use of our footprint and to limit land take.