Zentra Group plc: One Victoria - Replacement Building Contract Signed

DJ Zentra Group plc: One Victoria - Replacement Building Contract Signed

Zentra Group plc (ZNT) 
Zentra Group plc: One Victoria - Replacement Building Contract Signed 
25-Sep-2026 / 14:50 GMT/BST 
 
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25 September 2026 
 
ZENTRA GROUP PLC 
 
("Zentra" or the "Company") 
  
 
One Victoria - Replacement Building Contract Signed 

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. 
 
One Victoria is a 129-apartment residential development in Manchester city centre undertaken by Zentra Great Ducie 
Street Limited (the "Developer"), with Zentra acting as development manager and holding a 30% equity interest in the 
Developer. 
 
Further to the Company's announcement on 30 July 2026, the Developer has entered into a replacement building contract 
with AC1 Construction Limited ("AC1") for the completion of the remaining works at One Victoria. 
 
AC1 was initially engaged under a letter of intent ("LOI") on 30 July 2026, following the appointment of Joint 
Administrators to Torsion Construction Limited ("Torsion") and the subsequent termination by the Developer of Torsion's 
employment under the previous building contract. The LOI enabled AC1 to take possession of the site, undertake 
principal contractor duties and commence agreed works while the terms of the replacement building contract were 
finalised. 
 
Since its appointment under the LOI, AC1 has worked alongside the Developer, Zentra, the secured development finance 
provider and the wider professional team to progress the remaining works and finalise the construction programme. The 
replacement building contract now formalises AC1's appointment for the completion of the remaining works. 
 
Construction at One Victoria is at an advanced stage and practical completion is currently expected in December 2026, 
within the fourth quarter timeframe previously announced. 
 
Sales activity at One Victoria has continued to progress. Of the 129 apartments within the development, 105 have 
exchanged contracts and a further 7 are reserved. Accordingly, 17 apartments remain available for sale. 
 
The Company's investment in the development comprises a 30% equity interest and a loan with a face value of GBP4.1 
million. 
 
Jason Upton, Chief Executive Officer of Zentra, commented: 
 
"I am very pleased that we have been able to move quickly and decisively following Torsion Construction entering into 
administration in July. AC1 mobilised under the letter of intent following the termination of Torsion's appointment and 
has worked closely with us and the wider project team to maintain momentum on site while the replacement building 
contract was finalised. 
 
One Victoria is an important development for the Company and is now at an advanced stage of construction. With the 
replacement contract signed, 105 apartments exchanged and a further 7 reserved, our focus is firmly on completing the 
remaining works and delivering the development to our purchasers. AC1's early mobilisation has enabled us to maintain 
the fourth quarter completion timeframe announced in July, with practical completion currently expected in December. 
 
The speed with which the project team has responded to the circumstances of the previous contractor demonstrates the 
importance we place on protecting delivery at One Victoria." 
 
The Company will provide further updates as appropriate. 
 
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] 

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.: 444555 
EQS News ID:  2405756 
  
End of Announcement EQS News Service 
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September 25, 2026 09:50 ET (13:50 GMT)