Manchester’s office market demonstrated positive underlying momentum during the second quarter of 2026, with strong regional activity and continued demand for high-quality office accommodation supporting confidence across the city region.
Figures from the Manchester Office Agents Forum (MOAF) show city centre take-up softened during the quarter, while Salford and Trafford recorded their strongest performance since 2018.
We caught up with Erica Saxon, one of our surveyors in our commercial transactional team in Manchester, to learn more about why she believes the figures point to short-term caution among some occupiers, but continued strength in the market's long-term prospects.
In the city centre, office take-up softened with a total of 184,500 sq ft transacted. This is down from 286,000 sq ft in Q1 and 261,500 sq ft in the same period last year.
The slowdown reflects a more cautious approach among occupiers, as ongoing geopolitical tensions continue to weigh on business confidence. Some businesses are delaying decisions until market conditions improve, which is pushing several transactions into later quarters. Nevertheless, a steady pipeline of active requirements indicates that underlying occupier demand remains positive.
Encouragingly, the wider Manchester market demonstrated resilience during Q2, with several regional locations performing strongly. Salford Quays and Trafford emerged as standout locations, recording more than 144,000 sq ft of take-up across 29 deals, representing the best quarterly performance in those areas since 2018.
This highlights the growing appeal of established regional locations, as occupiers continue to seek high-quality accommodation, flexibility and value outside the city centre core.
Confidence in Manchester city centre’s long-term outlook continues to be supported by strong occupational market fundamentals. During Q2, the availability of high-quality office accommodation continued to tighten, with limited prime supply and a constrained pipeline of new-build space.
At the same time, occupiers are placing greater emphasis on best-in-class workplaces as part of their broader growth and talent strategies. Consequently, businesses are competing for a limited pool of high-quality accommodation, placing continued upward pressure on prime rents.
This sustained demand is reflected in Manchester's continued rental growth, reinforcing the strength of the market. The Island achieved a new city centre headline rent of £48.00 per sq ft during the second quarter, establishing a new benchmark for Manchester's office market. With supply remaining constrained and demand for prime space continuing to strengthen, there is growing expectation that headline rents could exceed £50.00 per sq ft before the end of the year.
This ongoing commitment to workplace investment is expected to underpin future leasing activity across both the city centre and wider regional markets.
The Prime Minister’s decision to establish No10 North in Manchester, alongside the increased national focus on the city region, further reinforce the Manchester’s position as one of the UK's leading economic and business destinations. These initiatives are expected to support future investment, employment growth and occupier demand across the office sector.
Overall, despite a quieter second quarter for the city centre market, Manchester continues to demonstrate resilient occupier demand. Strong regional activity, continued city centre rental growth and confidence in the city's long-term economic prospects point towards an increasingly positive outlook for the remainder of 2026.