‘Strong’ result in sale of Cadick Mansion

Conwoman Melissa Caddick’s former eastern suburbs mansion has been sold, liquidators say a ‘strong result’ has been achieved despite an overall decline in Sydney property values.

Her gorgeous five-bedroom, four-bathroom home in Dover Heights has been estimated by several appraisers to be worth around $15 million, according to News Corp, and the recipient is I’m hoping for at least $10 million.

On Friday afternoon, an offer to sell the property was accepted by Kadic’s trustees and Maliver’s liquidators.

Bruce Gleason, president of bankruptcy firm Jones Partners, said: “The deal was signed this afternoon with a 12-week settlement period.

The liquidator will not disclose the price until the settlement is complete.

“Given the current market conditions, we believe the sale price achieved is a strong result and will contribute significantly to the capital pool available to investors,” said Gleason.

“We are very pleased with the results of our sales campaign and the interest we received from prospective buyers.”

Caddick claimed he was investing the wealth of his victims, but instead set up fake CommSec trading accounts and forged documents to generate profits through capital growth and stocks.

She mostly preyed on her friends and family, stealing up to $30 million between 2013 and 2020.

Caddick disappeared in November 2020 after a raid by the Australian Securities and Investments Commission.

Her rotting, amputated leg was washed into sports shoes three months later on the far south coast of New South Wales.

The liquidators are also working to sell other seized property that previously belonged to Kadic, such as jewelry and designer goods.

They said updates for these items will be provided soon.

-AAP