Three of the largest buildings which made up the former headquarters of Oxfam in Oxford have been sold in a multi-million-pound deal.

Oxfam House in Banbury Road, Summertown, and Milford House behind it, have been bought by developer Tilbe Land for £3.47m.

And Kirkley House in Mayfield Road has been sold to nearby Summer Fields School for an undisclosed sum. The school plans to use the property for a mixture of classrooms and staff accommodation.

Tim Bryant of Tilbe Land said: "We plan to refurbish the office accommodation and substantially improve the property with new access arrangements to provide a range of office suites from 3,000sq ft upwards.

"We will also be creating a new retail unit on the ground floor.

"We view Summertown as offering a real alternative to city centre offices where the supply is drying up. Summertown also benefits from a great range of restaurants and retail amenities to service staff and clients."

The move will be welcomed by local traders after Oxfam relocated to Oxford Business Park, Cowley, last July, taking 600 staff with it.

Val Johnson, manager of the Queen's Bakery in Banbury Road, said she lost £200 a day in trade after Oxfam staff moved out.

She added: "I am looking forward to more people coming in. Business is slowly picking up again, especially with the workmen refurbishing the buildings."

Oxfam also leased five further properties in Summertown.

An office at one of the premises has now been taken by an undisclosed company. Another has also been acquired by Tilbe Land, another by pension fund ESN, while Prama House on the corner of South Parade is about to be refurbished.

The remaining buildings are the 14,000sq ft Mayfield House and the 11,000sq ft Barclay House.

Richard Venables of marketing agents VSL and Partners said: "The office market in Summertown was previously dominated by Oxfam and its relocation has opened up opportunities for accommodation to be refurbished and provide good-quality offices.

"The city centre office market is limited and Summertown provides a real alternative. The pavement caf culture has made it into an even more vibrant area and I believe this will be a great attraction."