This article is from the Australian Property Journal archive
MISSING woman Melissa Caddick’s Dover Heights property has successively sold ahead of the scheduled campaign close.
The five-bedroom four-bathroom Sydney home, at 5 Wallangra Road, has sold almost two years after Caddick’s disappearance, following an exchange of contracts.
“Following a successful Expressions of Interest campaign, we confirm the Receivers have accepted an offer for the sale of the Dover Heights Property,” said Bruce Gleeson, Principal at Jones Partners, the receivers of Melissa Caddick and liquidators of Maliver Pty Ltd.
Price expectations for the home features a double garage, pool and views of the Sydney Harbour, were expected to sit around the $10 million mark, with profits to go towards the victims of Caddick’s alleged fraud.
Caddick disappeared the day after agents from ASIC and officers from the Australian Federal Police raided the home in November 2020, on suspicion that Caddick held $30 million in misappropriated funds from investors.
The sale price of the property will not be disclosed until settlement has occurred, which is expected for 12 weeks from 28 October.
When Caddick purchased the house, on the 390sqm block, it set a per square metre suburb record, selling for around $800,000 above the asking price.
“We are very pleased with the outcome of the sales campaign and the interest received from prospective purchasers,” added Gleeson.
The expected sale price sat ambitiously above the $6.2 million the property sold for back in 2014, with the block well below the suburb average of 499sqm.
“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,” concluded Gleeson.
