Zentra Group plc: Formation of Property Management Joint Venture

DJ Zentra Group plc: Formation of Property Management Joint Venture

Zentra Group plc (ZNT) 
Zentra Group plc: Formation of Property Management Joint Venture 
12-Jan-2026 / 07:00 GMT/BST 
 
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ZENTRA GROUP PLC 
("Zentra" or "the Company") 
 
Formation of Property Management Joint Venture 
 
Zentra Group PLC (AQSE: ZNT), the Manchester-based residential developer, development manager and property manager 
focused on the North of England, is pleased to announce that it has entered into a joint venture with experienced 
property management professional Connor Moylan to enhance the Group's Assured Shorthold Tenancy ("AST") lettings and 
property management capability through a new subsidiary, ZPAS Limited ("ZPAS" or the "JV Company"). 
 
The Group already provides residential lettings and property management services through its existing subsidiary, 
Zentra Property Services Limited. The formation of ZPAS is intended to improve the scalability, operational focus and 
quality of the Group's AST lettings and management activities, while avoiding the addition of senior fixed overhead at 
Group level. The JV does not replace the existing property services offered by the Group, which will continue to 
operate alongside the JV. 
 
Under the terms of the joint venture, Zentra will hold 51% of the ordinary share capital of ZPAS, with Connor Moylan 
holding the remaining 49%. Zentra will retain board and governance control, with Jason Upton, Zentra Group PLC Chief 
Executive Officer, acting as Chair. Connor will be responsible for the day-to-day operations of the JV business. 
 
ZPAS will provide AST lettings, property management and associated after-sales services across approximately 84 
existing units currently under the management of Zentra Property Services Limited, together with future instructions. 
Block management on completed Zentra developments is expressly excluded from the scope of the JV. 
 
Following an initial transition period, during which existing Group staff will support the JV, ZPAS is expected to 
operate as a standalone business. Net profits will be shared 51% to Zentra and 49% to Connor, with dividends declared 
at Zentra's discretion, subject to working capital and performance considerations. 
 
The Board believes that the JV structure represents a capital-efficient way to strengthen service standards, grow 
recurring fee income and retain control over customer relationships and data, while aligning incentives between the 
Group and the operating partner through appropriate governance and performance protections. 
 
Background on Connor Moylan 
 
Connor Moylan is a Manchester-based property management professional experienced in residential lettings and 
management. He is an active director of Empanda Properties Ltd and Entire Spaces FM Ltd, where he has focused on 
improving occupancy levels, controlling arrears, increasing renewal rates and strengthening operational compliance. The 
Board considers his experience well aligned with the objectives of ZPAS and the Group's broader property management 
strategy. 
 
Commenting on the JV, Jason Upton, Chief Executive Officer of Zentra, said: 
 
"Property management is already an established part of the Group's offering. The formation of ZPAS allows us to 
strengthen that capability by introducing a more focused, specialist operating structure, while retaining governance, 
customer relationships and data at Group level. We believe this is a capital-efficient way to improve service quality 
and grow recurring fee income without adding senior fixed overhead." 
 
Connor Moylan commented: 
 
"I'm pleased to be joining the team at Zentra and to be part of the next stage in the Company's journey. Property 
management is already an important part of the Group's offering, and my focus will be on building on that foundation by 
delivering a consistent, hands-on lettings and management service that improves outcomes for residents, landlords and 
the Group." 
 
Contacts 
 
Zentra Group plc 
Jason Upton 
Chief Executive Officer 
Email: [e-mail] 
 
Nick Courtney 
Finance Director 
Email: [e-mail] 
 
Guild Financial Advisory Limited (AQSE Corporate Adviser) 
 
Ross Andrews 
 
Email: [e-mail] 
 
Tel: [phone] 
 
Tomas Klaassen 
 
Email: [e-mail] 

Hybridan LLP (AQSE Corporate Broker) 
Claire Louise Noyce 
Email: [e-mail] 
Tel: [phone] 
 
About Zentra Group plc 
Zentra Group is a property development and management company focused on the residential sector, primarily in the North 
of England. The Company seeks to unlock value and deliver strong returns for its investors. Zentra is listed on the 
ARAM segment of the Aquis Stock Exchange under the ticker ZNT. 
 
For further information, please visit the Company's website at www.zentragroup.co.uk. 

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ISIN:     GB00BLF79495 
Category Code: UPD 
TIDM:     ZNT 
LEI Code:   2138008ZZUCCE4UZHY23 
Sequence No.: 414448 
EQS News ID:  2258066 
  
End of Announcement EQS News Service 
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January 12, 2026 02:00 ET (07:00 GMT)