PHOTO: Melissa Caddick’s last asset – a Sydney penthouse, in Edgecliff – is prepped for auction. FILE
Auction of Missing Conwoman Melissa Caddick’s Sydney Penthouse Cancelled Last Minute
The auction of the final asset linked to the disappeared fraudster Melissa Caddick, a spacious Sydney penthouse, has been abruptly canceled. Finding a buyer for this property, which had been occupied by her parents, was set to mark the concluding phase of the financial liquidation managed by receivers handling Caddick’s absent estate.
Instead, the sales approach has shifted to a negotiation process.
Occupying the pinnacle of Eastpoint Tower, the penthouse at 1904/180 Ocean Street in Edgecliff was scheduled for auction on Tuesday, October 10, at 6 pm. However, shortly before noon on Tuesday, Jones Partners, the appointed receivers, released a statement announcing the auction’s cancellation and the initiation of a private treaty sale.
https://propertynoise.co.nz/au/the-last-remaining-asset-of-the-deceased-fraudster-melissa-caddick-is-now-available-for-purchase/
Bruce Gleeson from Jones Partners stated, “Despite significant interest expressed by parties in the Eastpoint Tower penthouse at 1904/180 Ocean Road, Edgecliff, the Receivers have withdrawn the property from auction instead of selling by private treaty. This exceptional penthouse is in an outstanding location in Edgecliff, NSW, and we remain confident of a favorable outcome.” The three-bedroom apartment boasts a spacious terrace, a private balcony, panoramic views from the CBD to Double Bay and North Head, and on-site amenities such as a pool and gym for residents.
Caddick acquired this property in 2016 for $2.55 million, a part of the extravagant lifestyle she maintained using the $23 million she had misappropriated from family and friends, who had mistakenly believed she was investing their money. Her parents were compensated $950,000 to vacate the property in July, allowing Jones Partners to gain vacant possession and prepare it for listing.
https://propertynoise.co.nz/au/buyer-of-melissa-caddicks-stolen-mansion-revealed/
The property was listed for sale on September 11, through Richardson and Wrench Double Bay. Agents Paul Kantor and Tim Muckenschnabl have been conducting viewings strictly by appointment.
Bruce Gleeson, representing insolvency firm Jones Partners, is the court-appointed receiver for Caddick’s assets. This auction follows the sale of Caddick’s waterfront Sydney mansion for $9.8 million in October of the previous year, with the proceeds benefiting her victims. The transaction for 5 Wallangra Road was completed well ahead of the October 31 deadline for expressions of interest.
In May the previous year, a court ordered Caddick’s husband, Anthony Koletti, to vacate the property to facilitate its sale. Gleeson characterized the result as “strong,” given Sydney’s market conditions, and emphasized its significant contribution to the funds available for investors.
https://propertynoise.co.nz/au/melissa-caddicks-home-to-hit-the-market-watch/
The property, with its stunning harbor views, was listed by the liquidators aiming to recover a portion of the millions that Caddick had misappropriated during her eight-year operation. This home was where the 49-year-old orchestrated her Ponzi scheme and was last seen on November 12, 2020, following a joint raid by the Australian Federal Police and Australian Securities and Investments Commission.
Listing: see more images here of the property
In February 2021, the remains of her foot were discovered in a sneaker washed up on a beach along the New South Wales south coast. An inquest into her fate and the mysterious circumstances surrounding her disappearance have prompted the development of a TV drama series.
SOURCE: NINE