DJ Zentra Group plc: One Victoria - Contractor Update
Zentra Group plc (ZNT)
Zentra Group plc: One Victoria - Contractor Update
21-Jul-2026 / 07:00 GMT/BST
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21 July 2026
ZENTRA GROUP PLC
("Zentra" or the "Company")
One Victoria - Contractor Update
Zentra Group PLC (AQSE: ZNT), the Manchester-based residential developer, development manager and property manager
focused on the North of England, provides the following update in relation to One Victoria, Manchester.
Further to the Company's announcement on 25 June 2026 regarding the construction programme at One Victoria, the Company
has been informed that Torsion Construction Limited (the "Contractor"), the principal contractor for the project, filed
a notice of intention to appoint administrators on 20 July 2026. As at the time of this announcement, administrators
have not been appointed.
One Victoria is being developed by Zentra Great Ducie Street Limited (the "Developer"). Zentra acts as development
manager for the project. As announced on 30 May 2025, the Company's investment in the Developer comprises a 30% equity
interest and a loan with a face value of GBP4.1 million.
Construction at One Victoria is at an advanced stage. Apartment fit-out is substantially complete and external facade
works are in their final stages. The remaining works are estimated to represent approximately eight weeks of
construction activity once new arrangements to finish construction are in place and principally comprise external and
communal areas, finishing and snagging, testing and commissioning, and the necessary inspections and approvals.
The Developer, supported by Zentra and the wider professional team, has been preparing contingency arrangements and is
in discussions with the provider of the secured development finance facility, a potential replacement contractor and
key project subcontractors. It is also taking steps to maintain site security, verify the status of completed and
outstanding works and protect its position under the building contract and related project documents.
Given the advanced stage of the development and the limited scope of work remaining, the Company considers the risk to
overall project delivery to be limited. While there may be some short-term disruption to the programme, Zentra now
expects practical completion in the last quarter of 2026.
The Developer is assessing any additional costs arising from the Contractor's position. Based on the information
currently available, the Company does not expect this event to have a material adverse effect on the recoverability of
its loan, which remains expected to be repaid from project proceeds following completion.
The Company will provide a further update as required.
Contacts
Zentra Group plc
Jason Upton Nick Courtney
Chief Executive Officer Finance Director
Email: jason.upton@zentragroup.co.uk Email: nick.courtney@zentragroup.co.uk
Guild Financial Advisory Limited (AQSE Corporate Adviser)
Ross Andrews Tomas Klaassen
Email: ross.andrews@guildfin.co.uk Email: tomas.klaassen@guildfin.co.uk
Tel: +44 (0)7973 839767
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.: 436919 EQS News ID: 2368850 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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July 21, 2026 02:00 ET (06:00 GMT)
