Zentra Group plc: Acquisition of Development Site in Manchester

4 March 2025

 

ZENTRA GROUP PLC

(“Zentra”, “the Company” or “the Group” or “ZNT”)

Zentra Group plc: Acquisition of Development Site in Manchester

 

Zentra Group PLC ("Zentra" or the "Company"), the Manchester based residential developer and development manager, is pleased to announce that it has entered into a conditional contract to acquire a parcel of land at Old Mill Street, Manchester, M4 6BX for a price of £1,425,000. The acquisition is subject to formal planning approval, expected to be received in March 2025. Legal completion is anticipated to be 15 working days following this approval. The commencement of construction works is targeted for Q4 2025, with construction expected to last 18 months.

 

This acquisition is the first one under the Company's newly launched Zentra Living brand, which aims to deliver vibrant, design-led residential apartments tailored to urban professionals.

 

The site, approximately 0.18 acres, has been used as a car park in recent years. Previously, up until the 1960s, it housed a rectory. It is situated within Manchester's New Islington Masterplan, an area that has undergone extensive regeneration to create a vibrant neighbourhood comprising homes, workspaces, a marina, restaurants, and bars.

 

The site is a 2-minute walk from New Islington tram stop, thereby offering excellent connectivity to the wider city.

 

The proposed development will consist of a six-storey apartment block, delivering 40 residential units (20 two-bedroom and 20 one-bedroom apartments) and a ground-floor commercial unit.

 

Jason Upton, CEO of Zentra Group PLC, commented:
"We are excited to announce this acquisition which is our first under the Zentra Living brand. The New Islington area is a great example of urban regeneration done exceptionally well, and this site provides an excellent opportunity to deliver high-quality, design-led homes in a vibrant and desirable location. Zentra remains committed to playing a key role in creating sustainable and thriving communities while addressing the demand for modern, well-connected urban housing."

 

 

Contacts

 

Zentra Group plc

Jason Upton

Chief Executive Officer

Email: jason.upton@zentragroup.co.uk

 

Nick Courtney

Finance Director

Email: nick.courtney@zentragroup.co.uk

 

Hybridan LLP (AQSE Corporate Adviser and AQSE Broker)

Claire Louise Noyce

Email : claire.noyce@hybridan.com

Tel: +44 (0)203 764 2341

About Zentra Group plc

Zentra Group is a property development and management Company. It focuses on the residential sector primarily in the North of England, seeking out value and maximising opportunities for investors. The Company is currently listed on the Access Segment of the Aquis Stock Exchange Growth Market, trading under the ticker ZNT.

For further information, please visit the Company’s website at www.zentragroup.co.uk The previous website www.oneheritageplc.com will automatically redirect to the new website.