Editor's note: This brief was summarised by The Property AI Newsroom from a report by The Negotiator. Read the original article for full details.

Michael Bruce Confirmed as Director in Purplebricks Return

Michael Bruce, co-founder of Purplebricks, has been confirmed as a director at the agency’s parent company, Strike. The Negotiator reports that Companies House records this week show Michael Bruce’s new directorship, confirming his return to the business.

The Negotiator has approached Purplebricks to verify whether Kenny Bruce, Michael’s brother and fellow co-founder, is also returning to a leadership role. Reports in March indicated that both brothers were expected to make a comeback at Purplebricks, with Sky News suggesting their return was part of a deal with the company’s current owner, Sir Charles Dunstone.

According to these reports, the arrangement would see the Bruce brothers take a significant minority stake in Purplebricks through Dunstone’s investment vehicle, Freston Ventures. Michael Bruce was reported to be taking on the role of Chief Executive, with Kenny Bruce sharing responsibility for helping to return the business to “sustainable long-term growth.”

Purplebricks was launched in 2014, introducing a fixed-fee model that challenged traditional estate agency commission structures. Michael Bruce stepped down as Chief Executive in 2019 following concerns over the company’s international expansion and subsequent financial performance. In June 2023, Purplebricks was sold for £1 to rival online agency Strike, which is backed by Sir Charles Dunstone. Strike later retired its own brand and rebranded the business as Purplebricks.

Letting agents and inventory clerks may wish to monitor developments at Purplebricks as the company enters this new phase under the renewed leadership of its co-founder.