Structadene founder David Pearl has exchanged contracts to sell his 53,000 sq ft, 431-451 Oxford Street property to luxury-property investor, Tribeca Holdings.

Pearl appointed agents at Michael Elliott and Cushman & Wakefield to seek buyers for the property in February, and it is thought to have fetched £130m, which is £5m above the asking price.

The property had been at the centre of a dispute between Structadene and its 50:50 partner, Continental Resources Development Corporation.

The pair had been locked in talks since late 2011 over how best to deal with the Irish Bank Resolution Corporation’s decision to call in its loans on assets owned by the joint venture.

The site in the city’s Mayfair district has nine stores, as well as offices and apartments with 53,000 sq ft of space opposite Selfridges on Oxford Street.

Tribeca Holdings London is a venture of Irish investor Aidan Brooks that owns retail real estate in high-rent areas such as Los Angeles and London.