Receivers list last Melissa Caddick property
Receivers representing investors speculated to have lost $23 million in Melissa Caddick’s six year Ponzi scheme – have listed the final significant asset, an Edgecliff penthouse.
On the top floor of the Eastpoint Tower, the three bedroom dwelling carries $5 million-plus price hopes.
Ms Caddick paid $2.55m in 2016 – later letting her parents, Barbara and Ted Grimley, move in rent-free for life, after they sold their Connells Point home for $1.55m – and gave her the bulk ($1.1m) of the proceeds.
Instead the fraudster used $570,000 of that money to buy a ring sold a year later at a loss.
Sell down
The listing of 1904/180 Ocean St came about after Mr and Ms Grimley struck an agreement with receivers to move out provided they receive $950,000 from the sale proceeds.
Jones Partners, led by court appointed receiver Bruce Gleeson and representing some 70 investors, recently revamped the unit, with new floors and a paint (story continues below).
Richardson and Wrench Double Bay’s Paul Kantor is the agent. The apartment also contains two bathrooms, a terrace and three car garage.
The offering comes 11 months since Ms Caddick’s Dover Heights family home sold for $9.8m – a rise on the $6.2m she paid in 2014.
A collection of jewellery was offered earlier this year too – netting some $806,000.
Over $300,000 was also collected in 2021 and 2022 from the sale of cars and stocks – the latter which it is speculated Ms Caddick invested, losing some $7m, in the months before her suspected death in November, 2020.
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