Changes to the ownership structure of Purplebricks parent company Strike have emerged following Companies House filings, alongside overdue annual accounts for both entities.
Charles Dunstone, the billionaire founder of Carphone Warehouse, is no longer listed personally as a person of significant control at Strike, according to documents filed yesterday. Instead, his investment vehicle Freston Ventures now holds significant control of the online estate agency group.
The filing comes as both Purplebricks and Strike have missed the 24 June deadline for submitting annual accounts for the year ending March 2025. Companies House typically issues striking off notices as formal warnings when accounts are overdue, though no such notices have been issued to date.
Director changes
The ownership restructuring follows a period of significant board changes at the company. Michael Bruce, who founded Purplebricks, returned to the business in June after being appointed as a director at Strike Limited. Bruce previously served as chief executive but departed in 2019 during a period of financial difficulty and concerns over the company’s international expansion strategy.
Two other directors have recently left the board. Andrew Harrison, a partner at Freston Ventures who served as chairman of Strike, had his appointment terminated in early July. John Stevenson, a director at investment firm Vanneck, also departed at the same time, according to Companies House records.
The changes reflect broader shifts in the estate agency sector, where ownership transitions have become increasingly common as traditional and online models compete for market share.
Business background
Purplebricks was acquired by rival online agency Strike for £1 in June 2023, following years of financial pressure on the once high-flying brand. The Strike brand was subsequently retired, with the combined operation now trading under the Purplebricks name.
The transaction marked a significant decline for Purplebricks, which had been valued at over £1 billion during its peak years. The company’s struggles have mirrored challenges across the online estate agency sector, where market conditions have pressured business models reliant on upfront fees and volume-based operations.
Purplebricks, Strike and Freston Ventures have been contacted for comment on the ownership changes and overdue accounts but had not responded at the time of publication.
