Zentra Group plc: Completion of Acquisition – Old Mill Street, New Islington

ZENTRA GROUP PLC
(“Zentra” or “the Company”)

Completion of Acquisition – Old Mill Street, New Islington

 

Zentra Group PLC (AQSE: ZNT), the Manchester-based residential developer and development manager, is pleased to announce that it has completed the acquisition of the site at Old Mill Street, Manchester, M4 6BX, following the receipt of formal planning approval.

The site was acquired for £1,425,000, and the transaction was funded through a combination of net proceeds from the sale of the Company’s One Meadow development in Eccleshill and external finance.

This acquisition marks a significant milestone for Zentra, as it is the first under the Company’s newly launched Zentra Living brand, which is focused on delivering vibrant, design-led residential apartments tailored to the needs of urban professionals.

The 0.18-acre site, previously operating as a car park, is located within the New Islington Masterplan — one of Manchester’s most successful and sought-after regeneration areas. The site is just a two-minute walk from New Islington tram stop, providing 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), along with a ground-floor commercial unit.

Construction works are expected to commence in Q4 2025 and will take approximately 18 months to complete.

Jason Upton, CEO of Zentra Group PLC, commented:

“The successful completion of this acquisition is an important step forward for Zentra and the launch of our Zentra Living brand. Old Mill Street is ideally located in a dynamic part of Manchester that reflects our ambitions to develop high-quality homes in vibrant, well-connected communities.

We’re looking forward to starting construction later this year and bringing this exciting development to life for future residents and the wider neighbourhood.”

 

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 Corporate 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 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 Access Segment of the Aquis Stock Exchange Growth Market under the ticker ZNT.

For further information, please visit the Company’s website at www.zentragroup.co.uk.