The temporary relocation by Manchester City Council to Spinningfields while the Town Hall is refurbished will not now go ahead.
The council announced last month that it would take 100,000 sq ft at the Allied London development for three years but that deal has fallen through.
Cllr Bernard Priest, executive member for finance and human resources, said: "Although we have previously indicated that Spinningfields was our preferred option, changing economic conditions have strengthened our position so that it is prudent for us to continue to review our options."
The council is believed to have shortlisted First Street by Ask, Argent's Piccadilly Place and MCR's 9 Portland Street for the fresh search.
GVA Grimley advises the council.