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Zentra Group PLC on Friday said it has completed its acquisition of the Old Mill Street site in Manchester, following the receipt of formal planning approval. The Manchester, England-based residential developer focused on the north of England said the £1.4 million purchase was funded through a combination of proceeds from the sale of its One Meadow development in Eccleshill and external finance. The proposed development consists of a six-storey apartment block, comprised of 40 residential units - 20 two-bedroom and 20 one-bedroom flats. It will also involve a ground-floor commercial unit. This was the first acquisition under the company’s newly launched Zentra Living brand, which focused on ‘vibrant, design-led residential apartments tailored to the needs of urban professionals’, it said. The site previously operated as a car park, and is located within the New Islington Masterplan, which Zentra said is one of Manchester’s ‘most successful and sought-after regeneration areas’. Construction is expected to take place in the fourth quarter of 2025 and will take around 18 months to complete. ‘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,’ said Chief Executive Officer Jason Upton. ‘We‘re looking forward to starting construction later this year and bringing this exciting development to life for future residents and the wider neighbourhood.’ Shares in Zentra were last traded at 2.75 pence on the Aquis Exchange. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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