Kyly Clarke appears to have hit a snag with one her latest real estate coups.
Known for her extensive property portfolio, the 41-year-old ex-WAG is having trouble renting out a cottage she bought on the NSW south coast in 2021 for $550,000.
The model, who is the former wife of cricketer Michael Clarke, spent a further $150,000 renovating the 50s era three-bedroom, one bathroom home reports The Daily Telegraph.
Located in Lake Heights 8km from Wollongong, the modest ‘fixer-upper’ was on the market for $530 a week, before Kyly bought it.
After Kyly’s make over it was listed in April for $650 a week, before the price dropped 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 investment property in Lake Heights
The model who is the former wife of cricketer Michael Clarke, spent $150,000 renovating the 50s era three-bedroom, one bathroom home and listed it for $650 a week. It was re-listed for $630, then $610 a week. It’s now on the rental market for $565 a week Pictured: The kitchen inside the Lake Heights renter
Pictured: Kyly on the red carpet in 2022. The 41-year-old ex-WAG set up Sparkles Property Investments to handle her real estate portfolio
The property is now going for $565 a week.
Kyly, who is an interior designer, has done extensive work to the old family home, including adding a bedroom to what was originally a two-bedder.
She also installed wooden floors, after removing tiling in the living room.
Other features include air-conditioning, built-in wardrobes in all the bedrooms and an expansive kitchen.
Meanwhile, the average property value in the Lake Heights neighbourhood is $828,000 according to ProTrack.
It comes after Kyly set up an entity Sparkles Property Investments to handle her real estate portfolio.
Among the brunette’s holdings is a $685,000 home in Muswellbrook, near Newcastle she bought in 2022.
She also has another property on the NSW south coast in Berkeley, near Wollongong which she purchased in 2020 for $480,00.
Kyly, who is an interior designer, has done extensive work to the Lake Heights home, including adding a bedroom to what was originally a two-bedder Pictured: The living room
The property is a three-bedroom home, which sets on a 567sqm block in the lakeside suburb.
The home was previously being rented out for $420-a-week.
Kyly’s purchase came soon after ex-husband Michael sold their marital home in Sydney’s affluent suburb of Vaucluse in 2022
According to The Sunday Telegraph, the cricketer, 40, ‘secured $12million’ after the settlement went through earlier this month.
The former couple purchased the property for $8.3million in 2014, however Kyly’s name was reportedly ‘dropped’ from the paperwork days prior to the settlement.
The bathroom inside the Lake Heights property
According to the publication, the stunning five-bedroom home was expected to sell for $10million.
Michael and Kyly moved in to the mansion in early May 2014 where they soon started their family, with daughter Kelsey Lee arriving the following year in 2015.
The former couple announced their split in February 2020, after seven years together, however it is believed they actually split quietly five months earlier.
They share custody of five-year-old daughter, and the split is believed to be amicable.
Kyly has launched herself into property investment in a big way after making her split official from Michael Clarke in February 2020