Manchester office market roundup
Take-up remains robust
Take-up in Manchester during Q1 2026 totalled 286,222 sq ft across 51 transactions, on par with the same period in 2025. Although take-up was down by 10% on Q1 2025, it was 25% and 10% above the five- and ten-year Q1 averages, continuing to demonstrate an improved occupier appetite in the city and the strength of the Manchester office market.
Grade A and Prime take-up totalled 199,666 sq ft and accounted for 70% of the total, 71% above the five-year Q1 average proportion. Combined take-up in square footage was 8% higher than the same period in 2025, and 102% higher than the five-year Q1 average. There were 14 Grade A and Prime transactions in Q1 2026, eight more than Q1 2025 and 59% above the five-year Q1 average number.
Availability continues to fall
At the end of Q1 2026, availability stands at 2.68 million sq ft, a 4% decrease on the previous quarter, with this the fourth quarter in a row where availability has fallen. This means the overall vacancy rate has continued to decline and now stands at 10.1%, representing a decrease of 40 basis points.
Grade A and Prime availability total 697,076 sq ft and 424,213 sq ft, respectively. Grade A has increased marginally by 1%; however, Prime has seen a significant decrease of 21% due to the letting of Havelock in its entirety. This means the Grade A vacancy rate has remained the same at 2.6%, while Prime has declined to 1.6%, the lowest on record for Prime.
Public Services, Education and Health dominate Q1 take-up
The most active sector in Q1 2026 was ‘Public Services, Education & Health’, accounting for 46% of total take-up. The sector leased 130,438 sq ft across five transactions, primarily driven by GPA taking the entirety of the recently refurbished Havelock, totalling 114,967 sq ft, in a deal negotiated by Savills. The quarter’s take-up was also the highest take-up for the sector since Q2 2022.
The ‘Professional’ sector also remained dominant in the market, accounting for 14% of total take-up. The sector leased 40,519 sq ft across 11 transactions.
The largest deal in this sector saw Sheppard Robson acquire 9,985 sq ft at Pall Mall.
Prime availability has seen a significant decrease of 21%, with the Prime vacancy rate now the lowest on record.
Richard Lowe, Director, Office Agency
New demand for fitted space
The preference for fitted and furnished office space seen throughout 2025 has continued into 2026, with fitted transactions totalling 48,335 sq ft in Q1, marking an increase of 24% on the same period in 2025.
There were 23 fitted transactions in Q1 2026, with these accounting for 45% of the total number of transactions. The ‘Business and Consumer Services’ sector was the most active in acquiring fitted spaces, with seven transactions in the quarter.
The average deal size for fitted floors also increased, with 2025 reaching 2,848 sq ft, up from 2,420 sq ft in 2024. The average in Q1 2026 totals 2,844 sq ft, 24% higher than Q1 2025, continuing to demonstrate that although fitted suites are often sub-5,000 sq ft, transaction sizes are starting to increase.
Find out more about Manchester's property market here.
Interested in other areas of the UK?
View all of our latest Q1 2026 occupational office data research here.