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Grocon takes $40m loan to finance Barangaroo venture

Property Markets / Planning, Zoning, Infrastructure

Australia

Feb 10 2018

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Simon Johanson, The Sydney Morning Herald

Embattled private developer Grocon made a loss of $27.5 million last year, prompting it to take out a $40 million loan secured against future development fees prior to winning the development rights for Sydney’s Barangaroo Central.

Company financial statements for the year to June 2017 show Grocon lost $27.5 million from revenue of $319 million and paid no dividends.

Go to The Sydney Morning Herald and read the full story.

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