Zentra Group (LSE:ZNT), a Manchester-based residential developer focused on the North of England, has agreed a six-month extension to the secured loan facility backing its New Islington development, moving the maturity date from 9 July to 9 January 2027.
All other commercial terms of the facility remain unchanged.
The extension buys the company time to complete final design development and procurement before targeting a construction start in the first quarter of 2027.
During 2026, Zentra has advanced the tender process for the build contract and progressed design options through pre-application engagement, with the preferred route intended to improve scheme quality and deliver additional residential units within the existing building footprint.
The company said the extension provides flexibility as New Islington moves through its final pre-construction stages, with procurement and design work converging ahead of the planned construction phase entry.
The next material milestone is the construction start, currently guided for the first quarter of 2027.
