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Grocon

grocon.com

About Grocon

Grocon is a development, construction, and residential real estate company. The company offers commercial office, residential, government, social housing, health, hotels, and infrastructure. It is based in Melbourne, Victoria.

Headquarters Location

Level 1, 577 Little Bourke Street

Melbourne, Victoria, 3000,

Australia

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Grocon Patents

Grocon has filed 1 patent.

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Application Date

Grant Date

Title

Related Topics

Status

2/7/2013

4/12/2016

Fountain pen and ink manufacturers, Writing implements, Pens, Steam engines, Engine technology

Grant

Application Date

2/7/2013

Grant Date

4/12/2016

Title

Related Topics

Fountain pen and ink manufacturers, Writing implements, Pens, Steam engines, Engine technology

Status

Grant

Latest Grocon News

NSW government handed lucrative perks to Crown, Lendlease in secret Barangaroo deal

Nov 11, 2022

Talking points A deal reached with Crown and Lendlease in 2019 provided for an additional 8000 sq m floor space at Barangaroo South. Former NSW premier Mike Baird told an inquiry that Crown and Lendlease had wanted “unfettered access” to harbour views. Lendlease MD of Australian development Tom Mackellar said the settlement enabled the developer to boost the height and width of its apartment towers. Advertisement The NSW government handed perks, including extra floor space likely worth hundreds of millions of dollars, to infrastructure giant Lendlease and casino operator Crown to settle a dispute over views from their buildings at Barangaroo. An inquiry heard the secret deal – details of which were aired for the first time on Friday – which the government reached with Crown and Lendlease in 2019 provided for an additional 8000 sq m floor space at Barangaroo South, where the companies were building several towers, and $80 million compensation if the development did not proceed. Crown and Lendlease took the NSW government to court in a bid to protect harbour views from their developments at Barangaroo South. Credit:Sydney Images The NSW upper house inquiry represents the latest battleground over plans for Central Barangaroo – the stalled $2.5 billion final stage of the government’s controversial Barangaroo foreshore renewal west of Sydney’s CBD. Former NSW premier Mike Baird told the inquiry that Crown and Lendlease had wanted “unfettered access” to harbour views from their casino, hotel and residential towers, and were “absolutely not” happy when it was refused. “For Crown and Lendlease, I was not on the Christmas card list, I assure you,” Baird said on Friday. Loading Crown and Lendlease launched action against the state-run former Barangaroo Delivery Authority in the Supreme Court in 2018, seeking to prevent future development at Central Barangaroo from blocking “sightlines” towards the Sydney Opera House and Harbour Bridge from their developments at Barangaroo South. The companies won the case and later reached a confidential out-of-court settlement with the government. Grocon chief executive Daniel Grollo, whose company won the tender to develop Central Barangaroo before it went into administration in 2019, estimated the extra floor space was worth $300 million to Lendlease. Advertisement Lendlease managing director of Australian development Tom Mackellar would not confirm the value of the extra floor space, saying “the numbers are commercially sensitive”. Mackellar said the settlement enabled the developer to boost the height and width of its apartment towers. Former NSW premier Mike Baird said he tried to balance the interests of the public, state and developers at Barangaroo. Credit:Brook Mitchell He said the agreement was effectively compensation for delays to its project due to the dispute, and any encroachment on views from development at Central Barangaroo – which had initially been planned as mid-rise. Baird also told the inquiry that there was no explicit undertaking given in relation to sightlines. “[The agreement] was that we would negotiate in good faith.” Loading He recalled a meeting with then-Crown chairman James Packer in 2015 shortly before the government reached an agreement requiring it to negotiate with the companies over plans to develop Central Barangaroo. Baird said the meeting was “reasonably cordial” and there was “limited discussion about sightlines”. “There was angst about the time it had taken the government to address a range of issues [at Barangaroo]. I understand that, it’s a significant project.” Labor MP Adam Searle said the settlement provided Lendlease with “significant additional development opportunity”, and questioned: “What exactly did the state get out of that settlement? I can see what Crown and Lendlease get out of it. I’m not seeing what NSW got out of it, what the state government get out of it?” Baird said there was a financial component, and public benefit tied to the metro station at Barangaroo. Grocon chief executive Daniel Grollo, whose company won the tender to develop Central Barangaroo before it went into administration in 2019, estimated the extra floor space was worth $300 million to Lendlease. Credit:James Brickwood Former department of premier and cabinet secretary Tim Reardon could not recall why the government did not continue with an appeal of the Supreme Court’s decision, rather than reaching a settlement with the companies. “One consideration was no doubt the state had been to court and had not been successful in that matter.” Reardon understood the development benefits in the settlement were “clearly subject to planning approval”. “It might not be usual, but there are plenty of financial structuring deals over a long period of time where there are unusual arrangements to try and get a resolution.” Grollo, who is suing Infrastructure NSW, accused the government of “unconscionable” conduct in the Barangaroo negotiations, and of “a perverse strategy to sell sightlines twice”. “At some point around early 2019, the decision was made that Grocon was expendable. “It’s not clear to me the motivation, other than a general position of greed,” Grollo said. Earlier this month, Crown’s former corporate affairs boss Karl Bitar told the inquiry he had encouraged the former Barangaroo Delivery Authority to compromise because no-one at Crown “wanted it to go legals”. Loading “I think our hope, and the reason why the negotiations dragged on for so long, was that we’d be able to find a solution, a win-win, that everyone could live with. Unfortunately, we failed.” Bitar said the views would have been of “substantial” value given “Crown was spending over $2 billion building this resort”. “Part of the reason why [Crown and Lendlease] entered into the agreement with the BDA to try to protect those sightlines was because those sightlines were so valuable.” Sydney MP Alex Greenwich said Barangaroo was “the wild west of planning in NSW through unsolicited proposals, state significant proposals and the ridiculous number of modifications that we’re dealing with”. Our Breaking News Alert will notify you of significant breaking news when it happens. 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Grocon Frequently Asked Questions (FAQ)

  • Where is Grocon's headquarters?

    Grocon's headquarters is located at Level 1, 577 Little Bourke Street, Melbourne.

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