Manchester’s office market ended 2025 with renewed confidence and strong momentum heading into 2026. The city centre achieved a total office take-up of 1.06 million sq ft, just below the five-year average of 1.2 million sq ft, supported by a robust final quarter with 289,600 sq ft transacted. Professional services were the most active sector, accounting for 29% of total take-up, while Technology, Media and Telecommunications (TMT) occupiers secured around 25% of the space.
A notable trend is the constrained supply of Grade A office space, with only slightly over 300,000 sq ft of new build currently under construction at Mayfield, not expected to complete until 2028. This supply pressure is anticipated to push prime rents above £50 per sq ft as competition intensifies for high-specification offices. High construction costs and viability issues continue to delay new schemes despite planning approvals, but projected rental growth may help more developments begin. High-quality refurbishments, such as those at Pall Mall, 3 Hardman Street, and the Rylands building (285,000 sq ft, completing in 2027), are set to bridge the gap in Grade A supply.
Out-of-town office markets in Salford and south Manchester also saw strong take-up levels in 2025.
