Zentra Group PLC: Contractor Change for One Victoria Project

Zentra Group PLC, a residential developer based in Manchester, has announced a critical update regarding its One Victoria project. On 29 July 2026, James Clark and Howard Smith were appointed as Joint Administrators for Torsion Construction Limited, the project's main contractor. As a result, Zentra decided to immediately terminate the contractor's employment.

To ensure continuity, site security and protection measures remain active. Zentra, along with its professional team, is negotiating with a new contractor to complete the project. They anticipate providing another update soon.

Despite these challenges, Zentra expects the project to be practically completed in the last quarter of 2026. The company believes that its £4.1 million loan receivable will not face significant risks from these developments. The loan is to be repaid from the project's sale proceeds, prioritized over other shareholder loans.