A long hiatus followed the collapse of the first MUBC in 1909, not least due to the First World War. The War also killed off a number of the Manchester rowing clubs, including Nemesis, which folded in 1920. However a meeting early in 1932 decided to try again, and accordingly, the current MUBC was founded using Agecroft RC facilities. The revived club affiliated with the AU in June 1932, with full membership on 16 November 1933.
In 1935 Agecroft built a new boathouse at Kersal Cell in Salford. Manchester University bought the old boathouse in Irwell Street (near the Douglas Green Weir, on the south side of the river) from Salford Corporation. However, this meant that MUBC had to be bought boats by the AU as it no longer had use of Agecroft’s fleet. It is thought that these were mainly fours and pairs – eights rowing was not widely developed outside of major rowing centres at this time.
All was well until December 1940 when the Irwell Street boathouse was destroyed by the Luftwaffe in what became known as the “Christmas Blitz” because the heaviest raids were the week before Christmas. The Club and its three surviving boats were at once offered a new base by Agecroft at their Kersal Cell boathouse and rowing continued (in a modest way) for the rest of the War.