A luxury penthouse apartment formerly 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 pay back some of the money stolen from dozens of investors, many of whom were her close friends and family.
The apartment atop the Eastpoint Tower at Edgecliff in Sydney’s eastern suburbs was listed for auction 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However, it was withdrawn and put on the market for private sale, liquidators Jones Partners said at the time.
Firm principal Bruce Gleeson confirmed the penthouse had been sold in a statement on Saturday.
A luxury penthouse apartment formerly owned by Sydney conwoman Melissa Caddick, 49, has been sold for an undisclosed sum with settlement expected next month
The apartment was previously occupied by Caddick’s parents, Ted and Barbara Grimley, and boasts sweeping panoramic views of Sydney’s city skyline and eastern suburbs
‘We have informed the creditors for Maliver Pty Ltd (in liquidation) and out-of-pocket-investors for Melissa Caddick of the sale,’ he said.
‘Sydney Sotheby’s assisted in selling the penthouse with settlement expected in April.’
The price has not been disclosed but it’s believed to be below the $5 million mark.
The apartment was previously occupied by Caddick’s parents, Ted and Barbara Grimley, and boasts sweeping panoramic views of Sydney’s city 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-dead daughter almost $1.2 million toward the mortgage on the apartment on the condition they could live there rent-free until they died.
But in the end, the Grimleys agreed to leave after a long-running court battle in exchange for a $950,000 payout from Caddick’s estate.
‘Spacious throughout and stylishly presented with understated contemporary finishes, this is the perfect opportunity for downsizers, executives and families who seek undeniable quality and convenience,’ the online listing for the property said.
Caddick, a self-styled financial adviser, lived a life of luxury on the back of about $23 million stolen mostly from family and friends via an investment scam.
The apartment has spectacular views across Sydney, as well as access to the shopping centre below
The 49-year-old disappeared in November 2020, just days after her Sydney eastern suburbs home was raided by ASIC investigators.
A coroner in May ruled Caddick was dead but could not determine the cause.
The fraudster’s badly decomposed right foot, which was still attached to a running shoe, washed up on a beach on the south coast of NSW in February 2021, but the rest of her body has not been found.
Investors received a share of $3 million recouped by liquidators Jones Partners in August last year following the sale of Caddick’s share portfolio and Dover Heights cliff-top mansion.
At the time, Mr Gleeson said it was not unusual for investors to receive nothing back from Ponzi schemes.
He said the sale of the Edgecliff apartment would allow for further significant distributions to investors.