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The Dover Heights home of missing fraudster Melissa Caddick sold on Friday afternoon after a one-month sales campaign and ahead of its original expressions of interest deadline on Monday.
The sale price was not disclosed by the court-appointed receiver of Caddick’s assets, Bruce Gleeson, but for the sake of Caddick’s victims it was hoped to sell for more than $10 million.
The Dover Heights home of Melissa Caddick sold on Friday afternoon.Credit:
“Contracts were exchanged this afternoon with a settlement period of 12 weeks,” said Gleeson, principal at Jones Partners.
“Until settlement has occurred, we will not be disclosing the sale price. 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.”
The property is not expected to have reached the high expectations of Caddick’s husband Antony Koletti, a hairdresser and sometime DJ.
Koletti told the court in May the house was valued between $15 million and $17 million.
The Wallangra Road property set a suburb high on a per square metre basis when it last sold for $6.2 million.
In a hotly contested listing process by eastern suburbs agents, Koletti’s price expectations were widely dismissed given the house is set on a 390 square metre block, well below the suburb average of 499 square metres, and last traded in 2014 for $6.2 million.
At the time Caddick purchased the house it set a house record for the suburb on a per square metre basis, and was about $800,000 more than the asking price of then-selling agent Brad Pillinger.
“It seemed too easy to get the extra money out of the buyer at the time,” said Pillinger.
The Wallangra Road house is the prime asset in the estate of Caddick, 49, who disappeared almost two years ago, a day after her home was raided by officers from the corporate regulator ASIC and the federal police.
Melissa Caddick and her husband Anthony Koletti.
Over eight years, Caddick stole more than $23 million, mainly from friends and family who thought she was investing their money in shares.
About three months after Caddick disappeared the remains of her foot were found in her running shoe when it washed up on a remote South Coast beach.
Gleeson told The Sydney Morning Herald’s Kate McClymont last month that he was shocked at the state of the house when Caddick’s husband, Anthony Koletti, vacated in May. As well as rotting food in the fridge, Koletti, a hairdresser, DJ and sometimes prawn breeder, left behind unwanted pieces of furniture as well as his fish tanks.
For two months before the house hit the market through Sotheby’s International the house underwent a cosmetic up-grade in which tradesmen installed new floors, painted and recarpeted other parts of the house.
Caddick’s multimillion-dollar collection of jewellery, designer clothes and artwork is expected to be auctioned later in the year.
In the eight years Caddick owned the house the median house price in Dover Heights has almost doubled, according to CoreLogic figures.
In 2014 the median house price was $2,669,963 and as of September it was $5,276,581, although local house values are down 13 per cent since the market peaked in January.
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