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.

Further to the Company’s announcement earlier today, Zentra Great Ducie Street Limited (the “Developer”) has entered into a letter of intent (“LOI”) with AC1 Construction Limited (“AC1”) in connection with the completion of the remaining works at One Victoria.

The LOI enables AC1 to take possession of the development site, undertake principal contractor duties and commence agreed initial works while the parties finalise the terms of a replacement building contract.

The Developer is working with AC1, the secured development finance provider and the wider professional team to finalise the remaining scope of works, cost plan and construction programme.

Subject to the finalisation of the replacement building contract and revised construction programme, the Company continues to expect practical completion during the fourth quarter of 2026.

The Company will provide further updates as appropriate.