While Kyle Sandilands’ palatial Sydney estate continues to languish on the market the shock jock might already be looking for his next investment further west if recent movements are anything to go by.
Sandilands was spotted in multiple locations across the Camden area south west of Sydney last week, much to the surprise and delight of locals.
Kyle Sandilands delighted Camden locals when he popped in for a visit recently. Picture: Facebook
The radio millionaire had dinner at Camden’s popular Italian restaurant Buon Appetit, taking time to pose for photos with staff.
He was also sighted at Funhouse HQ, a trampoline and family entertainment venue in the Camden region.
Camden locals were quick to speculate about the visit as photos of Sandilands’ visit began popping up on social media.
Kyle Sandilands delighted Camden locals when he popped in for a visit recently. Picture: Facebook
“Wait. Blowing cash (when) … he has a mortgage to pay he claims,” one person said.
“We were at Funhouse HQ and saw him there. Was a bit of a surprise,” said another.
“You go Kyle. I don’t say a lot about star people but you are amazing. I get a lot of s**T for my mouth too but that doesn’t stop us” another commented.
While the reasons for Sandilands’ Camden visit remain a mystery, the larger-than-life media personality has made a habit of securing properties outside central Sydney.
Sandilands is no stranger to Camden - he and Jackie O gave away a home in the region years ago as part of their show.
Camden being next on the investment list might not quite be on the cards, though, following Sandilands’ messy exit from KIIS FM and the Kyle and Jacki O Show he co-hosted with Jackie O Henderson.
The sudden job loss and ensuing court action may have put a squeeze on Sandilands’ finances and recent mortgage documents show he is juggling quite the portfolio of debt.
Sandilands reportedly took out a secret home loan charging close to 30 per cent interest rate just weeks after his radio walkout stopped his income.
The radio star has four separate mortgages with NAB. These loans cover his $14 million Vaucluse mansion, a $3 million Southern Highlands farm, a $1.8 million Copacabana fixer-upper, and a $3 million Glenorie estate.
Sandilands’ Glenorie home is still on the market.
According to media reports, the shock jock finalised a second mortgage on his Glenorie property with lender Mortgage Holdings Group on April 24.
The media personality accepted the mortgage to borrow up to $2 million.
The “lower” interest rate on the loan is 19.75 per cent a year, but the “higher rate” is an eye-watering 29.75 per cent.
According to reports, Sandilands could not even get the full $2 million cash amount. The lender kept $395,000 of the loan upfront to cover the staggering interest bills.
Even if the broadcaster pays the money back early, the contract forces him to pay at least six months of heavy interest.
Back in March, Sandilands admitted outside the Federal Court that he “has mortgages to pay like everyone else”.
The house behind the loans – the Glenorie estate – has yet to find a buyer months after hitting the market.
He bought the sprawling northwest Sydney acreage in secret for his wife, Tegan Kynaston, and their young son.
Kyle Sandilands and Jackie O in happier times.
But his wife refused to live in the Glenorie area because it sits a long one-hour drive from the Sydney central business district. The family now lives at their main Vaucluse home instead.
Sydney’s property market downturn following federal budget tax reforms has no doubt hurt Sandilands’ ability to offload the home.
The Glenorie house went up for sale in February. It was listed just one week after Sandilands’ live radio attack on co-host Jackie O Henderson triggered his temporary suspension.
No buyer has been found even though Sandilands and his wife slashed the price.
The radio world was rocked after his termination following an on-air spat with Henderson.
The broadcaster subsequently terminated both Sandilands’ and Henderson’s $100 million contracts.
While Henderson is still running a separate case against ARN, Sandilands finalised a $12 million legal settlement.
Sandilands said he chose to settle the dispute because the issue was not about the money, implying he can earn another $45 million by returning to broadcasting.
“I’m happy to earn the money,” Sandilands said. “I’d do the show for free, and it isn’t as if we’re broke.”
The media personality said he made the final decision to strike a deal with ARN after his lawyers advised that the legal battle could trigger another 12 months in appeals.
-Additional reporting by Belinda Palmada
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