The amount of office space transacted in Manchester during the second quarter of 2026 fell to 184,500 sq ft, down from 286,000 sq ft in the first three months of the year, according to data compiled by the Manchester Office Agents Forum.
City centre slows while regional locations pick up
Although total take-up eased compared with the opening quarter, the number of deals completed remained steady at 48 in Q2, against 51 in Q1. The quarter’s total was also below the 261,500 sq ft recorded in the same period last year, signalling a short-term slowdown in central Manchester activity.
However, activity was far from uniform across the conurbation. Larger lettings clustered outside the city centre, with Salford Quays and Old Trafford delivering a strong performance. The biggest individual move in the quarter saw PHMG take 67,500 sq ft at the Soapworks development in Salford Quays. Other notable transactions included scientific publisher MDPI taking 21,400 sq ft at 4 Hardman Square and Block Workspace agreeing a 25,800 sq ft deal at Sunlight House.
- Q2 total take-up: 184,500 sq ft
- Q1 total take-up: 286,000 sq ft
- Deals completed in Q2: 48
- Salford Quays/Old Trafford led regional leasing with 144,000 sq ft across 29 deals
Market drivers and outlook
Commenting on the figures, Matt Lee, partner at Carter Jonas, said the data pointed to "resilient occupier demand, despite a reduction in overall take up." He suggested demand would strengthen in the months after summer as occupiers continue to favour high-quality offices and as businesses look beyond the city centre.
“We expect demand to strengthen after the summer, with occupiers continuing to prioritise high-quality space,” said Matt Lee.
Lee also pointed to political developments as a potential tailwind. The establishment of a No 10 North presence in the city and renewed emphasis on devolution, he argued, could boost confidence in Greater Manchester and support longer-term office demand.
What this means for Manchester residents
The shift in transactions towards regional hubs such as Salford Quays and Old Trafford matters for local employment and the daytime economy. Larger lettings to firms like PHMG and Morson Projects, which signed for 22,232 sq ft at Centenary House, can anchor footfall and support nearby cafés, shops and transport services.
At the same time, a softer city-centre quarter highlights the ongoing challenge of matching occupier requirements with existing stock. Markets in the city will need to demonstrate high-quality, sustainable space to win occupiers who are reassessing location and workspace needs.
| Metric | Q2 2026 | Q1 2026 |
|---|---|---|
| Total take-up (sq ft) | 184,500 | 286,000 |
| Deals completed | 48 | 51 |
| Salford Quays/Old Trafford take-up (sq ft) | 144,000 | — |
For Mancunians, the takeaway is that while the city’s overall office market cooled in Q2, surrounding districts are proving attractive to occupiers. How landlords and developers respond — by upgrading buildings, improving sustainability credentials and offering flexible terms — will shape whether activity returns to city-centre locations or continues to decentralise across Greater Manchester.
