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The fall of the Grocon empire
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The fall of the Grocon empire
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The fall of the Grocon empire
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The fall of the Grocon empire
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From invincible to fallen: How Grocon and Daniel Grollo came down to earth
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Four years ago Daniel Grollo was feeling invincible.
His Melbourne-based construction and development company Grocon had been named preferred bidder by Infrastructure NSW for Sydney’s sprawling Central Barangaroo development precinct, a deal the company expected to soothe the financial stress the storied builder had been suffering for about two years.
Grocon executive chairman Daniel Grollo.
Credit:Wayne Taylor
But a senior adviser to the group came to Grocon’s Melbourne office in the QV building off Lonsdale Street with a warning about speculation in property circles that could destroy his plans to turn the company around.