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Buyer of Melissa Caddick’s ‘stolen’ mansion revealed

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Still images obtained on Tuesday, February 2, 2021, shows ASICS raid on Melissa Caddick’s Eastern Suburbs home. Picture: NSW Police

The buyer of fraudster Melissa Caddick’s former luxury home and the big price paid has been revealed as the book is closed on the saga that has engrossed Sydney and Australia.

Receiver Bruce Gleeson from Jones Partners, has revealed the Dover Heights home in Sydney’s exclusive Eastern Suburbs fetched $9.8m after an expressions of interest campaign in October via agent Michael Pallier.

A unique aspect of that campaign involved buyers stumping up with a $10,000 refundable deposit just to inspect the home, in big part to sort qualified buyers from rubber necks, who were still driving by the home last year when The Daily Telegraph was given a tour.

Caddick House Look See

Melissa Caddick’s former Dover Heights house sold for $9.8m, it has been confirmed. Picture: Damian Shaw

RELATED: Inside Melissa Caddick’s ill-gotten mansion

Mystery surrounded the sale of the home on October 28, three days before expressions of interest were due to close, appearing to confirm speculation there was a stigma attached to the multi-level home.

At the time, we reported a sale of about $10m.

The sale figure was well short of the $15m – $17m Caddick’s husband Anthony Koletti claimed the house was worth.

The home settled just days ago on January 27.

The price was “a good outcome given the current market conditions” Mr Gleeson said.

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

The home boasts fantastic views. Picture: NewsWire / Monique Harmer

Caddick House Walk Though

And caters to an outdoor lifestyle.. Picture: NewsWire / Monique Harmer

Caddick House Walk Though

Minor refurbishments were made to the home to ready it for sale. NewsWire / Monique Harmer

RELATED: Mystery over sale of Caddick’s ‘Ponzi’ mansion

Property records reveal Caddick bought the home for $6.2m in April 2014. Given prices in Dover Heights have jumped 50 per cent in the last five years alone, that would indicate the buyer scored something of a bargain.

However at the time, industry insiders believed Caddick had paid overs for the home.

Caddick had not made any major upgrades to the home, according to real estate records. However as much as $50,000 was spent on the home prior to its listing, as parts of it, including the pool had fallen into a state of minor disrepair.

Caddick House Walk Though

Even the main bathroom has a great view. Picture: NewsWire / Monique Harmer

Caddick House Walk Though

One of the main selling points of the home was the opportunity for multi-generational living.. Picture: NewsWire / Monique Harmer

According to the Australian Financial Review, the new owner of the Wallangra Rd address is local buyer Tongna He.

Not a lot is known about Mr He, but the AFR said he is a retired Eastern Suburbs local with adult children. One of the key selling points of the six-bedroom, four-level home was its capacity for multi-generational living.

The proceeds from the sale will go towards paying back the $23m Caddick fleeced from investors as part of her Ponzi scheme from 2012 to 2020.

Caddick House Walk Though

Caddick’s safes remain but her office has been turned into a bedroom. Picture: NewsWire / Monique Harmer

Melissa Caddick Inquest

The home sale price fell well short of Caddick’s husband Anthony Koletti’s expectations of a $15m to $17m value. Picture: NCA NewsWire / Flavio Brancaleone

It was when pictures of law enforcement arresting Caddick in her Dover Heights home in November 2020 hit the headlines, that her crimes first became known. The safes which feature in some of the raid photos, and were used to store her ill-gotten gains are still in the home. However her office was converted into a bedroom prior to the home’s sale.

The 49-year-old was last seen at the home in the early hours of November 12, 2020, a day after the raid by ASIC agents and AFP officers.

Caddick House Walk Though

The proceeds from the sale will go towards paying off creditors. Picture: NewsWire / Monique Harmer

Caddick had stacks of cash in various currencies along with passports and expensive jewellery in a safe at her home when it was raided by financial investigators. Picture: Coroners Court

Supplied  Melissa Caddick

Koletti and Caddick in an undated photo.

Caddick’s foot washed up on a beach on the NSW South Coast in February 2021. She is presumed to be dead.

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