Manchester office take-up cools in Q2 2026

Fresh data from the Manchester Office Agency Forum (MOAF) has revealed a slowdown in the region’s office market, with take-up activity falling year-on-year during Q2 2026. Despite the quieter quarter, underlying demand remained resilient, shedding light on the latest leasing trends.

A total of 184,477 sq ft of office space transacted across 48 deals during the quarter, marking a drop from the mega 261,547 sq ft recorded in Q2 2025.

Meanwhile, Salford Quays and Old Trafford emerged as the standout performers, with 144,079 sq ft of take-up - the area's strongest quarterly result since Q3 2018 and a significant jump from the 35,554 sq ft recorded in Q1. These latest figures suggest that occupier demand is becoming increasingly concentrated around the region's most active locations.

Matt Lee, Partner at Carter Jonas, commented: “The number of Manchester city centre deals in Q2 remains broadly consistent with last year, demonstrating resilient occupier demand, despite a reduction in overall take-up."

He continued: "We expect demand to strengthen after the summer, with occupiers continuing to prioritise high quality space and wider regional locations continuing to play a key role in the Manchester office market. The formation of No 10 North alongside an increased national focus on devolution provides further reasons for confidence in Greater Manchester’s growth prospects and opportunities across the region.”

Oliver Woodall, Director at Edwards, added: “Despite the decline in Manchester city centre activity in Q2, the wider regional markets experienced quarter-on-quarter growth, with Salford Quays and Old Trafford emerging as the strongest-performing areas. This resilience suggests that, despite ongoing economic uncertainty, demand has remained robust in key regional locations as occupiers continue to seek value and flexibility outside the city centre.”

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