Zentra Group plc: Update on One Victoria Project

Zentra Group PLC, a Manchester-based developer, has provided an update on its One Victoria project. Torsion Construction Limited, the project's principal contractor, filed a notice to appoint administrators on 20 July 2026. However, no administrators have been appointed thus far.

The project, developed by Zentra Great Ducie Street Limited, is at an advanced stage. Most apartment fit-outs are complete, with facade works nearing end. About eight weeks of work remain, focused on external and communal areas. Discussions are ongoing with a potential replacement contractor and key subcontractors.

Zentra maintains that, despite possible short-term disruptions, project completion is expected in late 2026. The company's loan is anticipated to be repaid from project proceeds post-completion. Additional costs from the contractor issue are under assessment but are not expected to have a material adverse impact.