Manchester’s office market well-positioned for a positive second half of 2025

Manchester’s office market is well-positioned for a positive second half of 2025, with strong demand across the city centre, South Manchester, Salford Quays and Old Trafford, but longer deal times and a shortage of new stock are key challenges, according to a property expert.

The Manchester Office Agents Forum (MOAF), which includes leading property consultancy Fisher German, reports that the first half-year of 2025 take-up in Manchester city centre reached 581,542 sq ft across 102 transactions, which is the highest half-year total since 2019.

Among the standout deals in Q2 were Softcat acquiring 35,391 sq ft at Manchester Goods Yard within Enterprise City, while Havas took 31,000 sq ft at Bruntwood SciTech’s 3 Circle Square.

Steve Brittle, Partner at Fisher German’s Manchester office, is optimistic about the remainder of 2025, with active enquiries and a healthy pipeline of deals already in progress.

He said: “We’re optimistic for the second half of the year. There’s good activity underway in the city centre and across South Manchester, Salford Quays and Old Trafford, although the process of closing deals is taking longer than it used to. Decision-making is slower, driven by extended due diligence and lingering market uncertainty.

“The first half of the year has set the tone for 2025, with the digital, media and technology sectors driving demand.

“However, the limited availability of Grade A new-build space could constrain larger occupier moves in the coming months.

“If occupiers are looking for top-grade large floor plates, options are limited. High construction and planning costs/constraints are restricting supply, which could impact Manchester City Centre’s office market if is not addressed.

“At the same time, we’re seeing growing interest in refurbished space, especially for requirements below 10,000 sq ft, where value and speed-to-market are critical.”

Steve stressed the need for businesses to start early and plan ahead when thinking about expanding or moving to new premises.

“With longer lead times and fewer large options available, businesses need to think strategically now,” he said.

“Waiting until leases are about to expire could mean missing out on the desired space or facing compromises on size, location or quality.”

Outside the city centre, South Manchester, Salford Quays and Old Trafford are primed for continued growth in the remaining half of 2025.

South Manchester recorded a half-year take-up of 250,721 sq ft, with Q2 deals up 27% over Q1 while Salford Quays and Old Trafford reached 136,860 sq ft in the same timeframe, boosted by the 48,513 sq ft letting to Warner Brothers at 75 Trafford Wharf Road, and 24,560 sq ft taken by UK Management College at Carolina Way.

Steve added: “While the city centre remains attractive to occupiers due to its talent and connectivity, regional business parks are becoming increasingly attractive.

“Rents, flexibility, and availability of space are driving this shift, and we expect that trend to continue through the rest of the year.”

Manchester Office Agents Forum is made up of Avison Young, CBRE, Colliers International, Canning O’Neill, Cushman & Wakefield, Edwards, Fisher German, TSG Property Consultants, Hallam Property Consultants, JLL, Knight Frank, LSH, OBI, Savills, and Sixteen.