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Senior Content Manager
Content specialist in office design and build.
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Manchester’s office landscape has entered a new phase of imbalance: strong demand on one side, and a shortage of high-quality space on the other. Prime buildings in the city centre are leasing quickly, often well ahead of completion, and the vacancy rate for top-tier space has been hovering at record lows. This is the result of several forces converging – sustained demand from high-growth sectors, a limited development pipeline, and the ongoing flight-to-quality as organisations redefine what their office needs to achieve.
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Many occupiers are now reassessing costs earlier in their lease cycle, not simply to secure space, but to understand the long-term value of different locations and specifications. With evidence of rising rents, tightening Grade A supply, and increasing competition for the newest schemes, the question isn’t just “what does Manchester office space cost?”, it’s how those costs are shifting and what that means for your next property decision.
This guide breaks down the current cost landscape, explains the market dynamics shaping it, and offers clarity for businesses planning their workplace strategy for 2026 and beyond. Below, you can jump straight to any section that’s most relevant to your search.
Table of contents
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The Manchester office market overview
Manchester continues to outperform other major UK regional markets, underpinned by its diverse economy, deep talent pool and magnetic appeal to high-growth sectors. Office demand in 2025 remained resilient despite wider economic uncertainty, with leasing activity running above the city’s long-term average.
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Take-up reached more than 770,000 sq ft across the first three quarters of 2025, which is 6% above the five-year average. These figures demonstrate a strong ongoing appetite for workspace that supports high levels of amenity, flexibility and ESG performance. While the end of 2025 was more measured after a very active start to the year, overall momentum remained healthy, particularly for newly built or comprehensively refurbished Grade A space.
A clear pattern has emerged in recent years, through occupiers consolidating their footprints into better buildings, with city-centre Grade A vacancy sitting just below 3% and prime vacancy holding close to 2% This imbalance between supply and demand is keeping rents firm and fuelling pre-let activity, reinforcing Manchester’s position as the UK’s strongest regional office market.
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Prime rents in Manchester
Prime headline rents in Manchester rose to £45.50 per sq ft in 2025, up from £44.00 at the start of the year. This new high reflects sustained demand for best-in-class space and a shortage of high-quality stock in the city centre. Projections suggest that prime rents could rise further to £48.50 per sq ft by the end of 2027.
Download The Manchester Office Rent Report to learn about our outlook for commercial space in Manchester, including a detailed map and highlights of the current trends.
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The cost of office space in Manchester in 2026
Location Grade A Rent (per sq ft) Grade B Rent (per sq ft) Central Core £35.00 - £45.50 £28.00 - £35.00 Spinningfields £34.00 - £40.00 £22.00 - £26.00 Ancoats and Northern Quarter £28.00 - £35.00 £20.00 - £26.00 Piccadilly £32.00 - £35.00 £22.00 - £32.00 Salford Quays £24.00 - £27.00 £16.00 - £22.00 Media City £23.00 - £26.00 £15.00 - £21.00 Manchester Airport £23.00 - £28.00 £17.00 - £26.00 These costs are a guide provided by local commercial property experts and rent reports. These costs are updated each quarter and are subject to change.
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What’s the difference between Grade A and Grade B space?
Grade A space typically refers to the newest, most energy-efficient and amenity-rich buildings in the market – the kind of workplaces designed to support hybrid working, strong sustainability performance and high levels of employee experience.
Grade B space is usually older stock that offers functional accommodation at a lower price point but may require refurbishment to meet modern performance and ESG expectations. For many businesses, the decision between the two comes down to balancing cost with long-term operational value.
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Sector activity
Manchester’s performance is being driven by its broad base of occupiers. Technology, Media and Telecoms (TMT) companies accounted for more than one-third of total take-up in 2025, supported by high-profile requirements from digital firms, software companies and creative industries.
Recent quarters also saw notable deals from corporate occupiers refining their portfolios, adding further depth to market activity. Stand-out transactions include Ryan LLC taking 32,080 sq ft at Orange Tower, MediaCity, and HT Finance leasing 20,818 sq ft at Jackson House.
These transactions, combined with headline moves like AutoTrader’s major commitment at Circle Square earlier in the year, illustrate how occupier activity is clustering around well‑connected, high‑amenity and ESG‑led buildings. This mix of digital, life sciences, professional services and corporate demand is one of the key reasons Manchester remains the most resilient regional office market in the UK.
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What’s driving office costs in Manchester?
The demand for destination offices in Manchester continues to intensify, with occupiers prioritising buildings that combine sustainability, flexibility, and high-end amenities. Central locations such as Spinningfields, St Peter’s Square, and Circle Square remain the most in-demand areas, offering ESG-compliant space with strong public transport links and walkable access to local amenities.
Grade A availability remains extremely limited. Prime vacancy sits below 2%, and Grade A city centre vacancy is just below 3%, which is pushing occupiers to act quickly when suitable space becomes available.
Manchester’s development pipeline remains relatively modest compared with the levels of demand flowing through the market. Several high‑profile schemes are due to complete over the next 1-2 years, including St Michael’s Phase One, 3 Circle Square and The Island. But, much of this space has already secured significant pre‑lets, reducing the amount of truly available stock hitting the market.
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How much space does your business need?
Right-sizing is playing a major role in Manchester’s leasing activity. Many organisations are choosing smaller, better-quality space, reallocating budget from square footage to workplace experience. If you’re beginning to map out your future requirements, our office space calculator can help you establish an early benchmark.
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What tenants want
Market activity has been dictated by greater take-up for space that is promoting stronger ESG credentials as employers are seeking higher quality space and amenities to attract teams back into the office.
Tenant aspirations for improved building amenities and sustainability accreditations have forced many landlords to refurbish their assets to enhance the offering. Several buildings have improved their communal amenities in the forms of cafes, collaboration areas and wellbeing spaces as part of active investment into these value-add facilities.
Eden, a new development boasting Europe’s largest living wall across at New Bailey is a perfect example of this. The 115,000 sq ft building has been designed to meet the UK Green Building Council net-zero carbon in-operation targets and aims to promote wellbeing.
Landlords will continue to refurbish their space to improve the offering to new tenants and meet the demand for top office space. The expectation is that Plug and Play space will continue to be popular among new tenants and will provide landlords with an efficient solution to reduce voids and rent-free periods.
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The outlook for Manchester office space
Manchester enters 2026 from a position of strength. With demand consistently outstripping the supply of prime space, the market is set for another year of rental stability – and likely further growth at the top end.
A series of high-profile developments will deliver new Grade A options into the market, including St Michael’s Phase One, 3 Circle Square, and The Island. These schemes are expected to set new benchmarks for design, ESG performance and workplace experience.
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Hybrid working continues to shape demand, but the direction of travel is clear: occupiers are choosing better space, not necessarily more space. Manchester’s strong graduate retention, expanding corporate ecosystem and growing international profile will continue to reinforce its position as the UK’s leading regional office market.
For businesses planning their property strategy, early engagement with available options – particularly in core locations – will be essential in securing long-term, future-ready workspace.
For further advice on the city’s office market, contact our regional workplace experts in Manchester. They can guide you through both tenant and landlord markets in greater detail.
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Contact us
Get in touch to discuss your potential office space costs
020 7553 9500
info@oktra.co.uk
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