Melissa Caddick’s house sold as defrauded investors hope to recoup funds

The receiver chasing the assets of missing fraudster Melissa Caddick has accepted a buyer’s offer for her Dover Heights home.

Melissa Caddick’s former home has been sold. Picture: Monique Harmer

The Sydney mansion of missing fraudster Melissa Caddick has been sold for an undisclosed sum as liquidators attempt to claw back some of the funds she took from investors.

“Following a successful expression-of-interest campaign, we confirm the receivers have accepted an offer for the sale of the Dover Heights property,” said Bruce Gleeson, principal at receiver Jones Partners in a statement on Friday night.

The five-bedroom, three bathroom mansion with a swimming pool at 5 Wallangra Rd sold three days ahead of the closure of the expressions-of-interest campaign on October 31 through Sotheby’s International Realty agent, Michael Pallier. Mr Pallier has been unavailable for comment all week.

Melissa Caddick’s former house at 5 Wallangra Rd, Dover Heights. Picture: Monique Harmer

Contracts were exchanged on Friday for a settlement period of 12 weeks, Mr Gleeson said.

He said that until settlement had occurred, the receiver would not be disclosing the sale price. It is understood the receiver had expected the house to fetch more than $10m – substantially higher than Dover Heights’ median house value of $5.882m, which has dropped more than 3 per cent in the past year.

“However, we believe the sale price achieved is a strong result given the current market conditions and will make a significant contribution towards the pool of funds available for investors,” Mr Gleeson said.

“We are very pleased with the outcome of the sales campaign and the interest received from prospective purchasers.”

Inside the former home of Melissa Caddick. Picture: Monique Harmer

In 2014 Ms Caddick paid $6.2m for the house on a 390 sqm which has city skyline and Harbour Bridge views.

The lower level of the property has two guest bedrooms, a rumpus room and the house is positioned close to coastal scenic walks as well as Rose Bay Village.

Potential buyers were requested to pay a $10,000 deposit before they were allowed to view the property.

“We are also continuing our efforts to progress realisation of other receivership property such as the jewellery and designer goods and will provide a further update on such aspects very soon.”

Ms Caddick, who was under investigation for the alleged misappropriation of $30m, vanished in November 2020 and is presumed dead after a decomposed human foot matching her DNA was washed up on Bournda Beach in 2021.