Melissa Caddick’s luxury Dover Heights mansion would sell well in ‘super strong’ property market

Now that Melissa Caddick’s remains have been found, questions have been raised about what will happen to her lavish Dover Heights mansion. And agents see it selling for a huge sum.

The Wallangra Road, Dover Heights, house was purchased for $6.2m in 2014 and would fetch millions more now, agents say.

With Melissa Caddick’s remains found, it’s likely her luxury Dover Heights mansion will need to be sold, and agents say it will sell well in the ‘super strong’ property market.

Caddick had bought the five-bedroom, four-bathroom home with double garage, iconic harbour views and heated pool on a 390sqm block in Wallangra Road for $6.2m in 2014.

It’s realestate.com.au ad described it as “a stunning collaboration between Altis Architecture and Inspire Design” and it has 180-degree views including the Harbour Bridge and Opera House and the city skyline.

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Iconic views.

The lounge room.

Anthony Koletti and Melissa Caddick.

It has a no-expense spared kitchen with granite benches and imported appliances. The bathrooms “exude boutique hotel-like luxury”.

Caddick bought it with her brother, Adam Grimley, but it’s 99 per cent owned by her. Liquidators placed a caveat on the title on December 15 last year in the wake of her disappearance a month before.

It’s estimated she owes $25m to investors and, with the discovery of her decomposed foot, pressure is already growing for her assets to be sold immediately.

Pillinger principal Brad Pillinger was the agent who sold it to Caddick in 2014. When asked what she was like, he said: “She seemed OK, but paid a big price — it was a little too easy.”

It had only just been renovated and continues to be the second-highest price in the tightly held street. A six-bedroom home sold for $6.5m in 2019.

Laing and Simmons Double Bay principal Steven Zoellner says if her home hit the market now it would sell “in the eights” — millions more than what she paid for it.

“The market is super strong,” Zoellner said.

Outdoor dining.

Luxury finishes and gorgeous views.

“There’s not a lot for sale with views and the market is chasing views at the moment.”

He launched a house in nearby Military Road to the market last night. “We’ve already had about 60 email inquiries,” Zoellner said.

Although he’s sure the house will “have to be sold eventually”, it may be 12 months before it can hit the market.

“They’ll have to deal with her estate and all the legal issues associated with who she’s allegedly stolen from … it could be at least 12 months away.”

If predictions of price growth of 14 per cent are accurate, the house could be worth even more than that. “Perhaps $9.32m,” says Zoellner.

Bi-fold doors open to the terrace.

The terrace and heated pool.

PPD Real Estate principal Alexander Phillips, who also has a house close by on the market, agrees the market is very strong.

“We had 25 buyers through the one we have for sale last Saturday,” Phillips said.

“Wallangra Road is a very good street — a lot of the blocks can be level and large.

“This looks to be an ideal family home, and it’s still close to Bondi Beach, though you’re not paying Bondi Beach prices.”

He says a lot of North Bondi buyers are attracted to the mansions of Dover Heights because of their good views.

Biller Property principal Paul Biller, who was nominated as the Agent of the Year award for Dover Heights by RateMyAgent, says the house would currently sell in the $8m range.

“It’s got good views, a very modern house and the market is great in Dover Heights,” Biller said.

He says the fact it’s been home to Caddick and her husband Anthony Koletti may attract a few more to the open home.

“You’ll get a few nosey people there, 100 per cent, but in terms of generating real buyers it’s not going to make a difference to the sale price.”

Originally published as Melissa Caddick’s luxury Dover Heights mansion would sell well in ‘super strong’ property market