Conwoman Melissa Caddick’s luxury penthouse is finally sold – raising hopes for ripped-off investors
A luxury penthouse apartment previously owned by Sydney conwoman Melissa Caddick, 49, has been sold for an undisclosed sum with settlement expected next month.
The proceeds are expected to be used to repay some of the money stolen from dozens of investors, many of whom were her close friends and family.
The apartment atop Eastpoint Tower in Edgecliff in Sydney’s eastern suburbs was auctioned on October 10 for an estimated $5.5 million.
However, it was withdrawn and put on the market for private sale, liquidators Jones Partners said at the time.
Company director Bruce Gleeson confirmed in a statement on Saturday that the penthouse had been sold.
A luxury penthouse apartment previously owned by Sydney conwoman Melissa Caddick, 49, has been sold for an undisclosed sum with settlement expected next month
Previously occupied by Caddick’s parents, Ted and Barbara Grimley, the apartment offers stunning panoramic views of the Sydney skyline and eastern suburbs
“We have notified the creditors of Maliver Pty Ltd (in liquidation) and Melissa Caddick’s own investors of the sale,” he said.
‘Sydney Sotheby’s assisted in the sale of the penthouse. Settlement is expected in April.’
The price hasn’t been revealed, but it’s believed to be under the $5 million mark.
Previously occupied by Caddick’s parents, Ted and Barbara Grimley, the apartment offers stunning panoramic views of the Sydney skyline and eastern suburbs.
She bought the apartment for the Grimleys in 2016, paying $2.55 million.
The couple later said they paid their now-deceased daughter nearly $1.2 million for the mortgage on the apartment, on the condition that they could live there rent-free until their deaths.
But eventually the Grimleys agreed to leave after a lengthy court battle in exchange for a $950,000 payout from Caddick’s estate.
“Spacious and stylishly presented throughout with understated contemporary finishes, this is the perfect opportunity for downsizers, executives and families looking for undeniable quality and convenience,” according to the property’s online listing.
Caddick, a self-described financial advisor, lived a life of luxury thanks to approximately $23 million stolen largely from family and friends through investment scams.
The apartment has spectacular views over Sydney and access to the shopping center below
The 49-year-old disappeared in November 2020, just days after her home in Sydney’s eastern suburbs was raided by ASIC investigators.
A coroner ruled Caddick dead in May but could not determine the cause.
The fraudster’s severely decomposed right foot, which was still attached to a running shoe, washed up on a beach on the NSW south coast in February 2021, but the rest of her body has not been found.
Investors received a $3 million stake in August last year, recouped by administrators Jones Partners following the sale of Caddick’s share portfolio and clifftop mansion in Dover Heights.
At the time, Mr Gleeson said it was not unusual for investors to get nothing back from Ponzi schemes.
He said the sale of the Edgecliff apartment would enable further significant distributions to investors.