Kyly Clarke seems to have hit a snag with one of her latest real estate coups.
Known for her extensive property portfolio, the 41-year-old ex-WAG is struggling to rent out a cottage she bought on NSW’s south coast in 2021 for $550,000.
The model, the ex-wife of cricketer Michael Clarke, spent another $150,000 renovating the 1950s three-bedroom, one-bathroom house. The Daily Telegraph.
Located in Lake Heights, 5 miles from Wollongong, the humble fixer-upper was on the market for $530 a week before Kyly bought it.
After Kyly’s makeover, it was listed for $650 a week in April, before dropping to $630 and then $610.
Kyly Clarke is having trouble renting out a cottage she bought on the NSW south coast in 2021 for $550,000 reports The Daily Telegraph pictured: the Lake Heights investment property
The model, the former wife of cricketer Michael Clarke, spent $150,000 renovating the 1950s three-bedroom, one-bathroom house and listed it for $650 a week. It was offered again at $630, then $610 a week. It’s on the rental market now for $565 a week Pictured: The kitchen in the Lake Heights tenant
Pictured: Kyly on the red carpet in 2022. The 41-year-old ex-WAG founded Sparkles Property Investments to manage her real estate portfolio
The property is now going for $565 a week.
Kyly, who is an interior designer, has done extensive work on the old family home, including adding a bedroom to what was originally a double room.
She also laid wooden floors, after removing tiles in the living room.
Other features include air conditioning, built-in wardrobes in all bedrooms and an extensive kitchen.
Meanwhile, the average value of real estate in the Lake Heights neighborhood is $828,000, according to ProTrack.
It comes after Kyly created an entity Sparkles Property Investments to manage her real estate portfolio.
Among the brunette’s holdings is a $685,000 house in Muswellbrook, near Newcastle that she bought in 2022.
She also owns another property on the NSW South Coast in Berkeley, near Wollongong, which she bought in 2020 for $480.00.
Kyly, who is an interior designer, has done extensive work on the Lake Heights home, including adding a bedroom to what was originally a two-bed bedroom. Pictured: the living room
The property is a three bedroom house situated on a 567 sq ft block in the lakeside suburb.
The house was previously rented for $420 per week.
Kyly’s purchase came shortly after ex-husband Michael sold their marital home in Vaucluse, the affluent Sydney suburb, in 2022.
According to The Sunday Telegraphthe cricketer, 40, “deposited $12 million” after the settlement was approved earlier this month.
The former couple purchased the property in 2014 for $8.3 million, but Kyly’s name was reportedly “dropped” from the paperwork days prior to the settlement.
The bathroom in the Lake Heights property
According to the publication, the gorgeous five-bedroom home was expected to sell for $10 million.
Michael and Kyly moved into the mansion in early May 2014, where they quickly started their family, with daughter Kelsey Lee arriving the following year in 2015.
The former couple announced their separation in February 2020, after seven years together, but they are believed to have split quietly five months earlier.
They share custody of the five-year-old daughter and the split is considered amicable.
Kyly has started investing in real estate in a big way after officially divorcing Michael Clarke in February 2020