With the properties in Sheffield and Bolton - Bank Street and Lincoln House, respectively - Zentra has unconditionally exchanged contracts on these.

Previously known as One Heritage Group, Zentra is undergoing a restructuring of its debt.

As part of a strategic shift announced earlier in October, which included its rebranding, Zentra entered a new £7m loan agreement with OHUK, a company linked to a major shareholder.

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Earlier this month, the company also drew down an additional £1m of working capital over the next 18 months from an existing loan facility.

Zentra provided this update via RNS with the group’s annual results due 31st October.

Commenting on the new £1.6m facility, the company commented: “This increased flexibility, together with the securing of the facilities noted above, underscores the commitment of the company’s majority shareholder to provider support, ensuring the company can pursue its strategy effectively.”

As announced earlier in the month, Zentra’s strategy will see it focus on core residential sectors while exiting the co-living services space.