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Latest property news
Major Purplebricks shareholder steps down from board
Axel Springer's representative on the ailing agency's board has stepped down with immediate effect to avoid a possible conflict of interest.
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Latest property news
Is Nested the next Purplebricks as Axel Springer piles in with its millions?
The unorthodox agency started out as an iBuyer-based platform but has now pivoted to become a 'local property expert' based hybrid. Sound familiar?
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Latest property news
Investor who helped make Purplebricks’ founders millionaires moves on
German media giant Director, Andreas Wiele, has stepped down from the agency's board, two years after investing £171 million in the company.
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Latest property news
Purplebricks invests more cash in growing German copycat
The UK hybrid estate agency giant has joined two other investors to pump a further £35.2 million into Berlin-based counterpart, Homeday.
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Latest property news
Purplebricks share price leap triggers takeover rumours
Purplebricks shares carried on rising in value over the Christmas period after the initial boost given to the company’s stock by the Conservative win during the General Election. The 20% increase in its share price from £1.05p on 12th December to £1.26p a share at the start of trading today is, industry consultant Andrew Stanton says, a sign that a takeover may be in the offing. The most likely buyer would be existing major shareholder and German media giant Axel Springer, which may be planning to offer other shareholders a premium price for their stock and take the estate agency back into private ownership. But Purplebricks is not the only property industry PLC to see its stock carry on rising in value after the General Election. Shares in Savills, Countrywide, Rightmove and Foxtons have also been rising alongside Purplebricks as the City shares feeding frenzy has continued following the election. Savills’ shares have increased by 20% since the election, Rightmove’s by 10% and Foxtons by nearly 30%. But Purplebricks improved stock price is happy ending to a miserable year. The company’s shares have been tumbling over the past 12 months, kicking off 2019 at £1.81 before tumbling to 90p in…
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Latest property news
Is Axel Springer about to launch takeover bid for Purplebricks?
Substantial stock sell-off by troubled City fund manager Neil Woodford of his share holdings in Purplebricks points to potential future bid.
Read More » Purplebricks stocks sinks to all-time low of £2.09p a share
The Purplebricks share price has hit an all-time low of £2.09p a share following a four-month slide off its highest price of just over £5 a share.
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Latest property news
Purplebricks shareholders vote to sign off £125m Axel Springer deal
Nearly 100% of Purplebricks shareholders have agreed to give German media giant's share buy-up the green light.
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Latest property news
Purplebricks share price continues downward spiral despite Axel Springer deal
Yesterday’s announcement by Purplebricks that German publisher Axel Springer is to invest £125 million in the business has failed to impress the City, dealing in its shares over the past 24 hours suggest. Purplebricks share price slid by 10% yesterday following the announcement and this has continued today, with its share price dipping to £2.73p at one point this morning. This is an ongoing trend, though. The company has seen its share price lose a third of its value over the past four weeks and 45% of its value since it peaked in July last year at £5.13. One reason for the downturn can be laid at the door of the current worries over a looming trade war between the US and the UK, as well as a febrile atmosphere among investors around the world as the EU and Russia sabre rattle. Directors cash in But the fact that many of Purplebricks’ senior team including founding brothers Michael and Kenny Bruce have cashed in some of their shares in the Axel Springer deal have also been a source of concern for investors – who don’t like to see directors or key senior people cashing in so early in a company’s…
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Latest property news
Purplebricks signals imminent move into Europe with extra £125m from German publisher
German publisher and property portal owner Axel Springer has invested £125 million in Purplebricks for 11.5% of its share capital, it has been announced, subject to a board meeting likely to rubber-stamp the deal next month. The surprise move by the €7 billion publisher of Europe’s largest tabloid newspaper Bild is to help fund a faster roll-out of the hybrid agency in the US, to prepare for entry into new markets and to improve its IT systems. Berlin-based Axel Springer’s investment, which echoes the Daily Mail’s involvement with Zoopla, is being led by its classified advertising chief Andreas Wiele, who joins the Purplebricks’ board as a non-exec director. But the investment also adds to Axel Springer’s existing property portal portfolio – it operates several leading European versions of Rightmove including SeLoger, Immowelt and Immoweb. European expansion? And like many UK publishers who have invested in digital media in the past, the move is designed to offset the huge migration by many agents from traditional publishing to online, and suggests an imminent move by the hybrid agent into European markets such as Germany and France. “Under the leadership of its founder Michael Bruce, Purplebricks has created a highly innovative digital real…
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