{"id":40437,"date":"2022-10-11T19:18:49","date_gmt":"2022-10-11T06:18:49","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=40437"},"modified":"2022-10-11T19:18:49","modified_gmt":"2022-10-11T06:18:49","slug":"why-melissa-caddicks-ponzi-home-wont-get-top-dollar","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/why-melissa-caddicks-ponzi-home-wont-get-top-dollar\/","title":{"rendered":"Why Melissa Caddick\u2019s \u2018Ponzi\u2019 home won\u2019t get top dollar"},"content":{"rendered":"

PHOTO: Melissa Caddick\u2019s home likely won\u2019t get the $15m sale figure bandied about.<\/strong><\/p>\n

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The much anticipated listing of the Dover Heights<\/a> home of the princess of the ponzi, Melissa Caddick<\/a>, scored huge headlines after it was revealed the inspections will see prospective buyers providing a $10,000 refundable deposit.<\/p>\n<\/div>\n

While pricey, it was an unusual, but understandable decision for the home at 5 Wallangra Road, Dover Heights.<\/p>\n

\"Melissa<\/a><\/div>\n
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$6.6m view into fraudster Melissa Caddick\u2019s home<\/a><\/h2>\n<\/header>\n<\/div>\n

And the Sotheby\u2019s International listing agents Michael Pallier and Mary Lin have the capacity to waive the $10,000 for clients on their database who have been looking locally.<\/p>\n

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\"$10k<\/div>\n

$10k just for a peek. Picture: NewsWire \/ Monique Harmer<\/strong><\/em><\/div>\n

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The decision came from Bruce Gleeson from Jones Partners, the court-appointed receiver of Caddick\u2019s estate.<\/p>\n

Her missing person\u2019s case has captivated Sydney and Gleeson said the level of interest and mystery had \u201cabsolutely blown me away.\u201d<\/p>\n

\"Melissa<\/a><\/div>\n
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Melissa Caddick\u2019s mansion in state of disrepair, court documents reveal<\/a><\/h2>\n<\/header>\n<\/div>\n

He wants genuine buyers not stickybeaks to secure the best price for her creditors, and adds that deposits to inspect the books are commonplace in regular receivership offerings.<\/p>\n

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\"ASICS<\/div>\n

ASICS raid on Melissa Caddick. Picture: NSW Police.<\/strong><\/em><\/div>\n

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\"Caddick\u2019s<\/div>\n

Caddick\u2019s office (top pic) is now a bedroom. Picture: NewsWire \/ Monique Harmer<\/strong><\/em><\/div>\n

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\"But<\/div>\n

But the main safe is still there. Picture: NewsWire \/ Monique Harmer<\/strong><\/em><\/div>\n

There\u2019s also the pragmatics of the house layout which, along with the main living space expanse, has narrow spaces upstairs and downstairs. These spaces wouldn\u2019t be able to cope with huge crowds through the five- bedroom, four-bathroom home that sits on a compact 390 sqm holding.<\/p>\n

The listing comes after repairs, repainting, recarpeting and pool compliance at the four storey high security home at\u00a05 Wallangra Road, Dover Heights<\/a>.<\/p>\n

There has also been decor styling.<\/p>\n

\"Melissa<\/a><\/div>\n
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Did Melissa Caddick fake her own death? | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n

The place is virtually devoid of any trace of Caddick who went missing the day after being raided in November 2020 by the corporate watchdog, ASIC, and the Australian Federal Police.<\/p>\n

Gone is the fraudster\u2019s very well organised home office, which is back as a bedroom.<\/p>\n

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\"The<\/div>\n

The Dover Heights pad has been given a makeover. Picture: NewsWire \/ Monique Harmer<\/strong><\/em><\/div>\n

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\"The<\/div>\n

The home boasts incredible harbour views. Picture: NewsWire \/ Monique Harmer<\/strong><\/em><\/div>\n

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\"Interest<\/div>\n

Interest in the sale has \u2018blown away\u2019 Bruce Gleeson from Jones Partners, the court-appointed receiver of Caddick\u2019s estate. Picture: NewsWire \/ Monique Harmer<\/strong><\/em><\/div>\n

Gone too is the home aquarium where her second husband, hairdresser turned music producer Anthony Koletti had taken up breeding prawns.<\/p>\n

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\"Anthony<\/div>\n

Anthony Koletti and Melissa Caddick<\/strong><\/em><\/div>\n

Two empty safes are still in situ. The bigger one is in the basement under the staircase.<\/p>\n

There are however two David Gerstein wall sculptures that remain at the house.<\/p>\n

Offers close October 31 with a private auction to follow if demand is strong.<\/p>\n

There is no price guide, but the $15 million to $17 million suggestion made by Koletti, who vacated the home in May, has been dismissed.<\/p>\n

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\"No<\/div>\n

No rubber necks allowed. Picture: NewsWire \/ Monique Harmer<\/strong><\/em><\/div>\n

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\"Two<\/div>\n

Two David Gerstein wall sculptures remain at the house. Picture: NewsWire \/ Monique Harmer<\/strong><\/em><\/div>\n

Over $10 million is deemed achievable given\u00a0Dover Heights\u2019 median price sits at $6.1 million, up 26 per cent over the past year, according to realestate.com.au.<\/p>\n

The median price was $3.95 million around the time of the disappearance of the unlicensed wealth adviser, and at $2.65 million in 2014 when it sold at $6.2 million.<\/p>\n

There have been 12 Dover Heights sales above $10 million since 2017 including $11.6 million just a few doors along. The record price was in February at $14.25 million for a six bedroom Portland St home.<\/p>\n

Locals hope, given a coroner\u2019s ruling there was no murderous foul play at the house, that the circumstances of her disappearance are unlikely to adversely impact the best price being achieved.<\/p>\n

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\"Out<\/div>\n

Out the back by the pool. Picture: NewsWire \/ Monique Harmer<\/strong><\/em><\/div>\n

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\"The<\/div>\n

The home sits on a compact 390 sqm holding. Picture: NewsWire \/ Monique Harmer<\/strong><\/em><\/div>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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