Conwoman Melissa Caddick’s Edgecliff penthouse apartment to hit the Sydney real estate market after $1million deal ends years of bitter wrangling with her parents
- Melissa Caddick’s Sydney penthouse will go on sale
- It is the deceased fraudster’s last major asset
The last major asset of infamous fraudster Melissa Caddick, a luxurious penthouse in Sydney’s east, will soon be sold in a bid to recover some of the millions of dollars she stole.
It comes after liquidators finalised a million dollar deal with her parents to move out of the ritzy apartment and allow it to finally be sold off.
Caddick disappeared from her Dover Heights, east Sydney, home in November 2020 after scamming more than $23million from her friends and family.
Her victims believed she was investing the funds but instead she blew the money on designer clothes, jewellery, overseas trips, multi-million dollar properties and luxury cars.
A coronial inquest in May found Caddick had died but couldn’t determine the date, cause or location of her death.
A Edgecliff penthouse known as the last major asset belonging to Melissa Caddick, a Sydney conwoman who stole about $23million from her friends and family, will soon go on sale (pictured, the penthouse apartment block)
A coronial inquest in May found fraudster Melissa Caddick (above) died after disappearing from her Dover Heights home in November 2020
Jones Partners have been tasked with unravelling the scam to determine how much is owed to Caddick’s victims.
More than $10million of the stolen money has been recovered from selling Caddick’s assets – including cars worth $361,000 and artwork and jewellery worth a collective $884,000.
So far the most prized sale was that of her Dover heights home which sold for $9.8million last spring.
Real estate agents are hoping for a similarly high sale this Spring for her Edgecliff penthouse, located in east Sydney – about 5km east of the city’s CBD.
Caddick purchased the three-bedroom apartment for $2.55million in 2016 and convinced her parents to pay $1million for a third of the ownership.
But instead of using the cash to pay off the mortgage, she splashed it all on her luxury lifestyle of fast cars, fancy holidays and designer clothes.
Caddick purchased the three-bedroom Edgecliff apartment (above) for $2.55million in 2016 and convinced her parents to pay $1million for a third of the ownership
Her parents were paid $950,000 on Monday in exchange for them vacating the property following a bitter court battle with their daughter’s victims.
The home will hit the market in coming weeks and is benchmarked to sell for as much as $5.1million, the Sydney Morning Herald reported.
The area is home to several noteworthy Aussies, including mining heiress Leonie Baldock.