The auction of the last asset belonging to vanished fraudster Melissa Caddick, a large Sydney penthouse, has been cancelled at the eleventh hour.
Securing a buyer under the hammer for the property, which was lived in by her parents, would have been the final stage in the financial cleanup by receivers handling the absent conwoman's estate.
Instead, the sale method will swap to a negotiation.
Crowning the Eastpoint Tower, the apartment at 1904/180 Ocean Street in Edgecliff was due to be auctioned at 6pm on Tuesday October 10. At lunchtime on Tuesday, the receiver Jones Partners sent out a statement advising the auction would not go ahead.
Instead, they will seek a deal via private treaty.
"Despite significant interest expressed by parties in the Eastpoint Tower penthouse at 1904/180 Ocean Road, Edgecliff, the Receivers have withdrawn the property from auction instead selling by private treaty," Bruce Gleeson from Jones Partners said in a statement.
"This exceptional penthouse is in an outstanding location in Edgecliff, NSW and we remain confident of a favourable outcome."
The three-bedroom apartment has a deep terrace, a private balcony and glistening views from the CBD to Double Bay and North Head and a pool and gym on site for residents.
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Caddick bought it in 2016 for $2.55 million – part of the lavish lifestyle she led using $23 million in funds fleeced from family and friends, who wrongly believed she was investing their money.
Her parents were paid $950,000 to leave the property in July, which enabled Jones Partners, Caddick's receivers, to take vacant possession and prepare to list it.
The home hit the market on September 11, on the books of Richardson and Wrench Double Bay. Agents Paul Kantor and Tim Muckenschnabl are looking after the campaign, and have been running inspections by appointment only.
Bruce Gleeson of insolvency firm Jones Partners is the court-appointed receiver of the missing woman's assets.
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This auction follows the $9.8 million sale in October last year of Caddick's waterfront Sydney mansion.
Her victims were the beneficiaries in the swift sale of the Dover Heights home, with a deal struck ahead of deadline.
The transaction for 5 Wallangra Road was completed earlier than the expressions of interest close date of October 31.
In May last year, Caddick's husband Anthony Koletti was ordered by a court to vacate the address so it could be sold.
At the time of the deal, Gleeson said the result was "strong", despite Sydney's market downturn, and would "make a significant contribution towards the pool of funds available for investors".
The property, with harbour vistas, was listed by the liquidators attempting to recover some of the millions Caddick stole over a bullish eight-year operation.
The home where the 49 year-old ran her Ponzi scheme and was last seen on November 12, 2020, following an Australian Federal Police and Australian Securities and Investments Commission raid.
The remains of her foot were discovered in a sneaker washed up on a New South Wales south coast beach in February 2021.
An inquest has probed her fate and the mysterious circumstances led to the development of a TV drama series.
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