Michael Pallier selected to sell Melissa Caddick’s Dover Heights home

Michael Pallier, of Sydney Sotheby’s International Realty has been appointed to sell the Dover Heights property of missing alleged fraudster Melissa Caddick.

In a statement released last night, Jones Partners, the receivers of Melissa Louise Caddick and liquidators of Maliver Pty Ltd, said an agency agreement had been signed with Sydney Sotheby’s following an “extensive and detailed real estate agent selection process”.

“We are actively working towards having the Dover Heights property ready for sale in the vicinity of five-six weeks,” Jones Partners Principal Bruce Gleeson said.

“The Dover Heights property represents a significant part of the receivership property of Melissa Caddick and there continues to be very strong interest in this property.

“We will provide a further update towards the end of July 2022 regarding the Dover Heights property and the realisation of assets”.

Appointing Mr Pallier as selling agent follows Federal Court of Australia orders made by consent in June, enabling Jones Partners as receivers to continue moving forward with bringing the Dover Heights property to market. 

Michael Pallier.

CoreLogic records show Caddick bought the home in 2014 for $6.2 million.

She lived at the property with husband, Anthony Koletti, before disappearing after the Australian Securities and Investments Commission raided the house in connection to a Ponzi scheme she had allegedly been running.

Caddick’s partial remains washed up on a remote South Coast beach in February 2021.

Mr Koletti was ordered by the Federal Court to move out of the five-bedroom home in May.

Jones Partners will sell the home in a bid to pay back some of the $23 million Caddick allegedly swindled from investors.

Known as the gentleman of real estate, Mr Pallier has sold some of Australia’s most valuable prestige property in his 25-year career, including Edgewater in Point Piper for $95 million in 2020.

Speaking to Elite Agent last year about the Point Piper sale, Mr Pallier said discretion, trust and patience were key to selling luxury properties.

“The first thing to remember when selling high-end properties, is that both the buyers and the sellers are normally very private,” Mr Pallier said.

“You can’t make the sale too public, so you can’t do open for inspections, you have to do private inspections instead.

“We often won’t put a sign board out the front either.”

In September last year, Mr Pallier featured on the Elevate Podcast and said he marketed prestige homes with a combination of online and print media for the majority of his properties.

He said print media plays a role in his marketing because people still pick up and hold a newspaper.

Mr Pallier also revealed the secret to his success lay in working hard and building a good reputation.

“I’m not into being too flashy,” he said in the podcast.

“I think people respect you if you put the hard yards in and you work hard.

“It’s not about you as the agent, it’s about the client. So, I think you’ve got to be a little bit low key and work hard and just give the people what they want and you’ll be very successful.”

Jones Partners said the matter will be back in court on 25 July 2022.

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Kylie Dulhunty

Kylie Dulhunty is the Editor at Elite Agent.

Cassandra Charlesworth

Cassandra Charlesworth is a features writer for Elite Agent Magazine with over 15 years’ journalism experience in metropolitan and regional newsrooms. She has a specialist interest in real estate, tech disruption and a good old-fashioned “yarn”.