Preheat the oven to 160°C fan-forced.
Season the beef with salt and pepper. Heat 2 tbsp of olive oil in a large, heavy-bottomed pot or casserole over medium-high heat. Working in batches and adding a little more oil each time, sear the beef until deeply caramelised on the outside. Take your time here: a proper sear will keep the meat juicy and tender during the slow cook. When done, set aside in a bowl to catch the drippings.
Reduce the heat to medium. Add the pancetta, celery and garlic to the same pot and cook for 2–3 minutes until caramelised. Set aside with the beef. Add the carrots and brown lightly, then set aside with the rest. Repeat with the shallots and mushrooms, but keep these in a separate bowl as they will be added halfway through cooking.
With the pot still over medium heat, add the remaining 1 tbsp of olive oil, the tomato paste and flour. Cook for 2 minutes, stirring well. Add the wine and simmer for 5 minutes, scraping the bottom of the pot to deglaze thoroughly.
Return the beef, carrots, celery, garlic and pancetta to the pot along with all the drippings. Add the beef stock, Quatre Épices, thyme and bay leaves and stir well to combine. Cover with a lid and place in the oven for 1 hour.
After one hour, remove the stew from the oven to give it a good stir and then add the mushrooms and shallots. Replace the lid and return to the oven for a further 1½–2 hours, until the meat is tender and falling apart and the sauce is thick and glossy.
Remove from the oven, season to taste and rest for 30 minutes to allow the flavours to settle. Serve with our Garlic Lovers’ Mashed Potatoes and crusty bread.