Zentra Living acquires New Islington site for residential development
Zentra Group PLC, a Manchester based residential developer and development manager has acquired a parcel of land at Old Mill Street, Manchester for £1,425,000.
The developer hopes to build a six-storey apartment block on the site, which is currently a car park.
This acquisition of the is the first one under the Company’s newly launched Zentra Living brand, which aims to deliver vibrant, design-led residential apartments tailored to urban professionals.
Up until the 1960s the site housed a rectory and is within Manchester’s New Islington Masterplan, an area undergoing extensive regeneration with homes, workspaces, a marina, restaurants, and bars.
Jason Upton, CEO of Zentra Group PLC, commented: “We are excited to announce this acquisition which is our first under the Zentra Living brand. The New Islington area is a great example of urban regeneration done exceptionally well, and this site provides an excellent opportunity to deliver high-quality, design-led homes in a vibrant and desirable location. Zentra remains committed to playing a key role in creating sustainable and thriving communities while addressing the demand for modern, well-connected urban housing.”
The proposed development will consist of a six-storey apartment block, delivering 40 residential units (20 two-bedroom and 20 one-bedroom apartments) and a ground-floor commercial unit.
The acquisition is subject to formal planning approval, expected to be received in March 2025. Legal completion is anticipated to be 15 working days following this approval. The commencement of construction works is targeted for Q4 2025, with construction expected to last 18 months.
