Sotheby’s appointed to sell house in Dover Heights

And while the sale of the Caddick house will already have a lot of unpaid publicity, not all agents wanted the job of selling it.

For starters, the receivership sale often requires the agent to sacrifice a portion of his fee.

The Wallangra Road property perched a suburb on a square foot basis when it last sold for $6.2 million.

The Wallangra Road property perched a suburb on a square foot basis when it last sold for $6.2 million.Credit:

The property comes with already high price expectations after Koletti, a hairdresser and sometime DJ, told the court the house was worth between $15 million and $17 million.

It’s not yet known which guide Sotheby’s will provide buyers with, but agents not on the list have offered more moderate ratings ranging from $10 million to $12 million, with plenty of room to launch the campaign above the level that recent months has been hampered by the downturn in the market .

The property last traded for $6.2 million in 2014, setting a suburban home record per square foot at the time.

It was a bullish result of about $800,000 more than the asking price of then-selling agent Brad Pillinger, of his eponymous agency.

“It seemed too easy at the time to get the extra money from the buyer,” Pillinger said.

The five bedroom house as it was when it was last traded in 2014.

The five bedroom house as it was when it was last traded in 2014.Credit:

Real estate data shows that during the sales campaign in 2014, it was originally listed at over $5.8 million, but revised to $5.5 million a month before it was sold.

“Just because it was sold to Caddick for a bullish price doesn’t mean it will be this time, despite the better market,” Pillinger said.

The modern three-storey house is located behind a double garage with three separate living areas, a separate study, five bedrooms, four bathrooms, a cellar, a home gym, a roof terrace with panoramic harbor views and a swimming pool.

The property has a $4 million mortgage.

Loading

City records show no signs of major renovation since it was last traded, but a high-end sound and security system was installed by Len Wallis Audio in late 2015, which was the subject of a later fraud attempt by Caddick.

Three years ago, a prosecutor filed a $110,000 attic with Waverley Council, but it was withdrawn without approval.

Federal court orders issued in June have authorized the trustees to proceed with the sale of the Caddick home, despite Koletti’s previous claim to the title.

The case returns to court on July 25 to hear the arguments of Caddick’s parents, who claim they are entitled to one-third of an Edgecliff penthouse that their daughter bought in 2016 for $2.55 million.

Leave a Comment