Zentra Group plc: One Victoria - Contractor Update
|
Zentra Group plc (ZNT)
ZENTRA GROUP PLC (“Zentra” or the “Company”)
Zentra Group PLC (AQSE: ZNT), the Further to the Company’s announcement on One Victoria is being developed by Zentra Great Ducie Street Limited (the “Developer”). Zentra acts as development manager for the project. As announced on Construction at One Victoria is at an advanced stage. Apartment fit-out is substantially complete and external facade works are in their final stages. The remaining works are estimated to represent approximately eight weeks of construction activity once new arrangements to finish construction are in place and principally comprise external and communal areas, finishing and snagging, testing and commissioning, and the necessary inspections and approvals. The Developer, supported by Zentra and the wider professional team, has been preparing contingency arrangements and is in discussions with the provider of the secured development finance facility, a potential replacement contractor and key project subcontractors. It is also taking steps to maintain site security, verify the status of completed and outstanding works and protect its position under the building contract and related project documents. Given the advanced stage of the development and the limited scope of work remaining, the Company considers the risk to overall project delivery to be limited. While there may be some short-term disruption to the programme, Zentra now expects practical completion in the last quarter of 2026. The Developer is assessing any additional costs arising from the Contractor’s position. Based on the information currently available, the Company does not expect this event to have a material adverse effect on the recoverability of its loan, which remains expected to be repaid from project proceeds following completion. The Company will provide a further update as required.
Contacts
About Zentra Group plc Zentra Group is a property development and management company focused on the residential sector, primarily in the North of For further information, please visit the Company’s website at www.zentragroup.co.uk Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. View original content: EQS News |
| ISIN: | GB00BLF79495 |
| Category Code: | UPD |
| TIDM: | ZNT |
| LEI Code: | 2138008ZZUCCE4UZHY23 |
| Sequence No.: | 436919 |
| EQS News ID: | 2368850 |
| End of Announcement | EQS News Service |
|
|
Proactive Investors is a publisher of financial news and information. No content in this record, or published on the Proactive Investors website (the "Site"), constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. No content is tailored to any specific person's needs, objectives, or financial situation.
Proactive Investors is not a registered investment adviser or broker-dealer and does not provide personalized investment advice. Nothing in this record constitutes investment advice or a recommendation to buy, hold, or sell any security. None of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value, or suitability of any particular security, portfolio, transaction, or investment strategy. Any decision to buy, sell, or hold a security should be made only after consulting an appropriately qualified, licensed financial adviser and reading all relevant offering documentation.
This record, and any record we publish by or on behalf of our clients, should not be construed as an offer or solicitation to buy or sell any product or security. Our content is independent financial journalism, produced in a neutral, objective style with full source attribution.
In accordance with the Federal Trade Commission's guidelines on material connections, Proactive Investors discloses the following: we may receive cash or, in some cases, equity compensation from companies whose news is distributed through our platform. This compensation is for news distribution and media services, not for editorial content or coverage decisions. Where Proactive Investors has a commercial relationship with a company covered in this record, that relationship is disclosed within the article. Any such relationship does not determine, influence, or shape the editorial content produced. Where we receive equity compensation, such securities are held independently by a third-party broker and sold at the broker's discretion.
The Site may contain opinions from time to time regarding securities mentioned in other products, including company-related products, and those opinions may differ from those obtained through another Proactive Investors product. Opinions and commentary reflect the views of the named author at the time of writing and are subject to change without notice.
Price and other data is supplied by sources believed to be reliable. Any calculations are made using such data. Neither the data nor the calculations are guaranteed by those sources, by Proactive Investors, by the information providers, or by any other person or entity, and may not be complete or accurate.
From time to time, reference may be made in our marketing materials to previously published articles or opinions. Such references may be selective, may reference only a portion of an article, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.
FOR OUR FULL DISCLAIMER CLICK HERE