Cosgrave Property Group will net more than €250m after it decided to sell its office and retail interests on Oxford Street in London in two tranches in order to maximise its returns, according to a report in Property Week.

The buildings were put on the market in March with an asking price of more than €230m but the Irish development group decided to sell 215-219 Oxford Street, which includes a shop let to Spanish retailer Zara, to a private German investor for about €64m. They had bought it two years ago for about €50m at then-exchange rates.

Cosgrave is also expected to receive about €187.7m from the sale of 197-213 Oxford Street, which it bought from Prupim for more than €150m in 2006.

The Cosgraves also own the River Island block on the street, which it acquired for nearly €100m; the Liberty shopping centre in Romford in the north east of London, which it bought for €320m, and an office scheme in Birmingham, which it bought for about €90m at current exchange rates.

Its assets in Dublin include the Radisson St Helen’s hotel in Booters­town and the former Dun Laoghaire golf club and office blocks in the city centre.