WITH rumours circulating that the Central Coast Mariners have offered Usain Bolt an average A-League salary of less than $150,000, the Jamaican sprinter would be on a tight budget should he wish to buy a Central Coast property on this income.
Chances are now looking bleak for an A-League signing, following recent reports of a contract offer from Central Coast Mariners falling well below Bolt’s asking price.
Reports have indicated that the Mariners had tabled a contract to Bolt understood to be worth around the mean salary for an A-League player of less than $150,000.
This falls almost $2.9 million beneath Bolt’s initial asking price.
Olympic sprinter Usain Bolt celebrates scoring a goal for A-League football club Central Coast Mariners in his first competitive start for the club against Macarthur South West United in Sydney on October 12, 2018. Picture: Peter Parks.
Given the enormity of the gap in salary, it appears as though a multi-storey oceanfront mansion on the Central Coast may be out of the question for the six foot five sprinter should he wish to apply for a home loan on the Central Coast.
According to a local bank, if Bolt were to accept a $150,000 salary, he would be looking at shopping for properties in the $600,000 range.
Yvonne “Bonnie” McCall from Bank of Queensland Erina indicated that the budget would depend on Bolt’s yearly spending, but could be as low at $600,000.
“With a $150,000 salary, no debts and a yearly spend of $50,000, a person applying for a single loan would be quoted around $600,000. The deposit would be 20 percent,” she said.
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This Central Coast property at 623 The Entrance Road, Bateau Bay would be out of Bolt’s price range with a guide of $649,000.
“The amount is based on a five percent buffer on the interest rate, in case there is a change in market conditions.”
Fingers crossed that the market won’t crash while Bolt is on the Coast, although his $60 million net worth may help should he run into any repayment issues.
For $600,000, you would be looking at a fairly average Central Coast property – depending on the suburb.
The south end of the Coast is the more expensive region, although considering Bolt will be training at Gosford, it is probably the more viable one.
He currently resides in a rental property – a sprawling 1089sqm luxury penthouse in the high-end suburb of Point Frederick.
With four bedrooms plus a separate guest suite, with its own ensuite, kitchenette, dining and living area, Bolt has had plenty of room to spread out and entertain.
However based on his $600,000 budget, if he were to look at purchasing in the same suburb, he would have to wait for a two bedroom off-the-plan apartment to be constructed, and for $599,000 he would not be getting a view.
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Usain Bolt’s luxury Point Frederick penthouse. Picture: supplied.
Or if Bolt wanted to get closer to the ocean and the nightclubs, he could head to Terrigal – but with a $150,000 salary he’d be looking at another apartment or villa. If he wanted a house, it would be a knock down.
And despite a recent fall in the Sydney market, Bolt can forget about buying there – unless he wants to live as far away as Campbelltown, or buy a unit in Blacktown.
FOUR CENTRAL COAST PROPERTIES THAT BOLT COULD BUY ON A $150K SALARY
1. 16 Parry Avenue, Terrigal
On a large 696sqm block this three-bedroom home has been advertised as a “knockdown”.
16 Parry Avenue, Terrigal. .
2. 37 The Broadwaters, Tascott
Freshly painted and carpeted, this two-bedroom home is in walking distance to the train station.
37 The Broadwaters, Tascott.
3. 317/6 Pine Tree Lane, Terrigal
In the heart of the Terrigal CBD, this tiny 56sqm studio apartment may be small, but it offers ducted airconditioning and a stone kitchen with Miele appliances.
317/6 Pine Tree Lane, Terrigal.
4. 148A Albany Street Point Frederick
Selling off-the-plan, this two bedroom unit will offer secure underground parking and is in walking of Blue Tongue stadium where Bolt currently trains.
148A Albany Street Point Frederick.