THE giant GPT Group is understood to be entertaining a plan to split its commercial property assets into two separate vehicles, designed to make the group look more appealing to investors, and improve the group's negotiation position with banks.

The proposal will see Australian owned office towers and shopping centres managed by one fund, and a swag of "toxic" European assets (owned with failed investment group Babcock & Brown), managed by another fund.

The decision follows capital raisings to the tune of more than $1.7 billion, since GPT's new chief executive and former banker Michael Cameron took the helm on May 1. In total the group has raised about $3.3 billion in the past 18 months.