Office take-up totalled 516,000 sq ft across Manchester City Centre, South Manchester, Salford Quays and Warrington in Q2 2026, representing a 16% increase on the previous quarter and standing in-line with the 10-year quarterly average. Take-up for Manchester city centre however dipped in Q2 and was 33% down on the rolling 5-year average (277k sq ft).
The largest letting of the quarter saw marketing company PHMG let 67,500 sq ft at Soapworks in Salford to relocate from nearby, the largest office deal in Salford since the pandemic. In the city centre, a new headline rent of £48.00 per sq ft was achieved at Henry Boots ‘Island’ with Arcadis taking 10,339 sq ft, a 7% increase on the previous £45.00 per sq ft. At this level, prime rents in Manchester stand 11% greater than the Big Nine average.
Vacancy across Manchester City Centre increased by 150 bps to 12.7%, driven by the release of secondary space. In contrast, Grade A vacancy tightened to 2.8%, highlighting the continued demand for best-in-class space across the market. No new space is due to be completed in 2026, although 1m sq ft of new space is scheduled for completion between 2027 and 2028.