Fraudster Melissa Caddick’s former Dover Heights home rated one of Sydney and NSW’s best
Melissa Caddick’s former eastern suburbs mansion is one of Sydney’s most notorious homes, but it’s also one of the city’s best. Here’s why.
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Melissa Caddick’s notorious eastern suburbs mansion has been rated as one of Sydney and NSW’s best homes.
The fraudster’s former four-level, five-bedroom eastern suburbs pad, that sold last month for around $10 million. has earnt a spot on our exclusive list of NSW’s Top 50 homes – the best and most envy inducing homes in the state.
In setting ourselves the tough task of selecting NSW’s best homes, it was through the post-Covid lifestyle prism that we framed our search, in our chats with architects, designers, real estate agents and our colleagues.
And Caddick’s 390 sqm house fits the bill.
A $30m view (for a third of the price) that boasts Harbour Bridge and Opera House views aside, the home also boasts numerous entertaining spaces, multigenerational living and a cranking pool set up.
It represents something of a bargain given comparable sales nearby and the fact a sale price of $15m had initially been floated by her husband Anthony Kolletti.
Raine and Horne Double Bay’s Alex Lyons said if the circa $10m price understood to have been paid for the Caddick house is correct it was “an absolute steal”.
“We sold [Housewives of Sydney star] Chrissy Marsh’s house in Military Rd for $11.5m and 88 Military Rd for circa $10m, so the Caddick house should have been $13m or $14m,” Lyons said.
“The process of the $10,000 to get in to look at it put people off.”
The home was bought by Caddick in 2014 for $6.2m, a little more than Dover Heights’ current median house price That has risen by 50 per cent since Caddick bought there, while in nearby Vaucluse median prices have doubled.
Caddick, presumed dead, went missing in November 2020, before Koletti was finally evicted from the home in May.
He has since dramatically downsized to a $600 a week rental in Vaucluse, about a minute’s drive from his former home.
But after a makeover estimated to have cost 10s of 1000s of dollars, the home is as good as ever for the new, unknown buyer.
Lyons, who sold $70m worth of property in October with an average price of $9.6m, said Sydney’s prestige market was “bucking the odds” compared with the rest of the market.
“The factors affecting the rest of the market, such as higher interest rates, don’t apply … there’s less stock and more demand,” he said.
“So the prestige market is actually going the other way.”
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