Imperial Brands to sell and leaseback Bristol HQs for £70m

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Imperial Brands has appointed JLL to find a buyer for its two offices at 121 and 123 Winterstoke Road in Bristol on a sale-and-leaseback basis.

The two office buildings, which total 94,000 sq ft and 50,000 sq ft respectively, were completed between 2013 and 2014 and serve as the multinational tobacco brand’s headquarters.

Offers for 121 Winterstoke are expected to be in excess of £53.5m, while 123 Winterstoke is believed to be offered with an asking price of £17m+.

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