Companies House filings have confirmed that Purplebricks founder Michael Bruce has acquired a significant stake in the online estate agency, marking a notable development following his return to the business earlier this year.
Bruce was appointed as a director at Strike Limited in June, the company that acquired Purplebricks for £1 in a deal that took the firm off the stock market. Official documents now list him as a person of significant control, indicating ownership of between 25% and 50% of the company’s equity.
Return following turbulent period
Bruce previously served as chief executive of Purplebricks but departed in 2019 as the company faced deteriorating financial performance and concerns about its international expansion strategy, which has since been scaled back. His return comes as Strike has retired its own brand, with operations now trading under the Purplebricks name.
Other persons of significant control listed in the filings include Sir William Dunstone and his Freston Ventures investment arm. The development follows wider shifts in the property sales sector, as traditional and digital estate agencies navigate changing market conditions.
Overdue accounts raise questions
Companies House records show that annual accounts for both Purplebricks and Strike for the year ending March 2025 remain outstanding. Both entities were required to file accounts by 24 June. While Companies House typically issues striking off notices as formal warnings for overdue accounts, no such notice has been issued, and there is no indication of wrongdoing.
A Purplebricks spokesperson stated last month that the delay was due to the appointment of a new chief financial officer and that accounts would be filed shortly. The situation contrasts with recent regulatory action in the property sector, though no comparable concerns have been raised about Purplebricks.
Neither Purplebricks nor Bruce have provided comment on the stake confirmation. The company’s restructuring comes as property market dynamics continue to evolve, with online agencies competing against traditional high street operators.
