By Charlotte Williams, Associate Director at Bradley Hall Manchester
The first half of 2025 has underlined the strength and resilience of the commercial property market in Manchester and across the wider North West. After a period of economic uncertainty, the region has shown remarkable stability, with robust performance across offices, industrial, retail, and leisure.
Manchester in particular has delivered its strongest half-year office take-up since 2019. At 3.7 million sq ft, this figure sits 6% above the 10-year average, reflecting a return to pre-pandemic levels of occupation. Office occupancy has risen from 71.4% in 2024 to 75.3% in 2025, demonstrating that businesses are continuing to commit to physical space that supports collaboration, creativity, and hybrid working models.
The digital, media, and tech sector has been at the forefront of this activity, reinforcing Manchester’s reputation as the UK’s second city for innovation. A notable deal has seen Warner Brothers take new office space in Salford and Trafford, close to MediaCityUK. With new build availability tightening, refurbished stock is increasingly being sought after, providing opportunities for developers and investors alike.
Industrial Market Retains Momentum
The industrial sector has also performed strongly, with H1 take-up reaching 16.8 million sq ft, a 10% uplift from the previous period. Demand continues to centre on logistics and distribution hubs, with Warrington and Wigan proving particularly popular.
Investment has been steady, with £532 million transacted in H1, closely in line with last year’s figure. Multi-let industrial units have shown the greatest potential for value growth, while the pipeline for H2 looks healthy, with £193 million of stock under offer at the start of Q2. Supply constraints are, however, a concern. With just 968,000 sq ft of new big box space under construction, the lowest level since 2019, demand is expected to outpace supply in the near term.
Retail and Leisure Recovery
Retail parks have demonstrated stability, with vacancy rates at 7.7%, while both the Trafford Centre and Manchester Arndale continue to attract major brands. The arrival of Sephora and the planned opening of PRO:Direct Soccer highlight the confidence that retailers have in the region.
Meanwhile, the licensed and leisure sector has been buoyant, with new venues across Manchester city centre and Trafford City supporting job creation and boosting the evening economy.
Cumbria: Growing Regional Potential
Beyond Manchester, Cumbria is seeing increased activity in industrial units, rural office conversions, and regeneration schemes. Projects such as The Flock, a proposed 25-acre industrial development near Kendal, and Carlisle’s new university campus and Southern Link Road, are set to transform local economies.
Looking Ahead
The first half of 2025 has highlighted the dynamic nature of the North West commercial property market. The resurgence in office demand, combined with sustained growth across industrial, retail, and leisure, underlines the region’s economic vitality.
At Bradley Hall, my focus is on ensuring clients benefit from tailored, full-service solutions that match the pace of this growth. I am excited to play my part in supporting businesses and investors as opportunities across Manchester and the wider North West continue to expand.
Contact us here for property support: https://www.bradleyhall.co.uk/branches/manchester/
