Manchester city centre has been one of the UK’s main development hotspots over the last few decades. In this report we’ll take a whistle stop tour of what’s currently going on and focus in on what’s being proposed for the new few years.

Regeneration started in earnest here in the 1990s as vacant post-industrial sites were redeveloped with office, residential, hotel and leisure schemes. Despite 30 years of fast-moving development there are still sizable plots of land awaiting redevelopment close to the centre.

Over this time the economic profile of the city centre has developed and changed demand trends for commercial space. A city economy grounded on finance, law and public administration has oriented towards creative, digital and tech. As retail has receded the leisure and visitor economy has become important.

Avison Young’s latest report says of the commercial market in the city: ‘Manchester saw a strong start to 2025 with take-up reaching 556,513 sq.ft., up 25% on the previous quarter and 3% ahead of the 10-year quarterly average.’ On rents they add: ‘Prime city centre rents saw no movement at £45 per sq.ft. and rent frees remain at 27 months on a 10 year term.’

Manchester has always been a major university city but student numbers have risen sharply in recent years and accordingly PBSA development has surged (although mostly outside the central core).

Savills say there are now 110,000 students, with 30% from abroad. However, their recent report suggests this market is still undersupplied: ‘The development pipeline has been relatively flat in recent years, but with almost 5,000 units with planning permission and some of the highest rental levels in the UK, developer interest is understandably at an all-time high.’ They add: ‘Savills analysis finds that almost 15,000 PBSA units are required to meet current demand in Manchester.’