An open letter published by solicitor and former OFSE president Constantine Vertzayias calling for unity over the future of the $119.5 million Hellenic Village sale has sparked strong reaction across Sydney’s Greek Australian community, with several organisations and former community leaders publicly backing his vision for a long-term Pan-Hellenic legacy fund.
In recent Letters to the Editor sent to The Greek Herald, community representatives expressed support for preserving the proceeds of the Kemps Creek sale for collective benefit rather than distributing funds among participating brotherhoods and associations. Many echoed concerns that fragmentation could dilute the opportunity to create lasting infrastructure for future generations, while also triggering significant capital gains tax liabilities.
Among those voicing support were former and current presidents of the Mytilenian Brotherhood of Sydney and NSW, the Progressive Community of Agiasos Inc NSW, and the Hellenic Lyceum of Sydney, all describing the sale as a rare and historic opportunity to strengthen Greek identity, culture and institutions in Australia.
Letter to the Editor by the Hellenic Lyceum of Sydney
To the Editor of The Greek Herald
The Hellenic Lyceum of Sydney strongly endorses the open letter by Costa Vertzayias about the sale of the Kemps Creek land and the future of our Hellenic Community.
Mr. Vertzayias has chaired a number of public meetings over the past 25 years raising expectations that one day a Pan-Hellenic Centre would be established which would include a museum where the Hellenic Lyceum could exhibit its valuable and unique costumes and artefacts.
The Hellenic Lyceum has a vast collection of original costumes, artefacts, jewellery, embroideries and antique furniture. Many pieces date back to the late 19th century. These are museum pieces, collected over the past 75 years, through purchases made in the Plaka area of Athens, as well as sourced from individuals throughout regional Greece, and through generous donations of current and past Hellenic Lyceum members and friends of the Hellenic Lyceum. This collection needs to be exhibited in a museum, for the wider community to appreciate, and for the posterity of our future generations!
The Greek Community, with a history of over 125 years in Sydney, has been waiting a long time for such a moment. The proceeds from the sale should be used to benefit our community now and for the generations to come. It would be a horrendous crime for the funds to be dissipated or wasted on non-community projects or lost in paying capital gains taxes that may be avoided.
The Hellenic Lyceum urges all the Community to stand up, and request that those who are the decision makers, act solely in the best interests of our Community and the collective good; for Hellenism, for our culture and future generations. This is an opportunity that should not be lost.
Yours sincerely,
Christina Mitsopoulos, Secretary
On behalf of the Committee of the Hellenic Lyceum of Sydney
Letter to the Editor by Dimitri Barmakellis, President of the Mytilenian Brotherhood of Sydney & NSW
To the Editor,
As the newly elected President of the Mytilenian Brotherhood of Sydney and NSW, I wish to congratulate Mr. C. Vertzayias on his insightful article in The Greek Herald (Monday, 20 April 2026). His reporting on the $119.5 million sale of the Kemps Creek “Hellenic Village” addresses a pivotal moment for our community, and I wish to echo the concerns he raised. We stand at a crossroads: we can either fragment our community wealth or consolidate it for the generations to come.
Distributing these funds to individual associations would be a strategic error. Beyond the immediate impact of massive capital gains tax, such a move would dilute our collective ability to fund large-scale projects—most notably a Hellenic Club in Sydney that would serve as a permanent hub and a showcase of Hellenism. A “Pan-Hellenic Fund” is the only viable path to ensure this capital works for every Greek in NSW indefinitely.
The brotherhoods that held this land for 30 years did not do so for a quick payout; they did it to safeguard our future. I urge current boards to demonstrate that same foresight and leadership. Let us build a lasting legacy together, rather than allowing our heritage to be lost to the “death by a thousand cuts” that fragmented distribution would inevitably bring.
Yours sincerely,
Dimitri Barmakellis
President of the Mytilenian Brotherhood of Sydney & NSW
Letter to the Editor by Gregory Georgantis, President of the Progressive Community of Agiasos Inc NSW
I, Gregory Georgantis, President and Chairperson of the Progressive Community of Agiasos Inc (Lesvos), wholeheartedly agrees with the article’s main points.
Congratulations are due to the Board for navigating a long, complex process to reach this rare and valuable outcome for our community.
The history recounted—selfless transfers, difficult negotiations, wide-ranging contributions and personal sacrifices—rightly deserves recognition.
Most importantly, the sale presents a once-in-a-generation opportunity: to safeguard our language, identity and institutions by converting this windfall into lasting communal infrastructure and an endowment. The proposed Pan‑Hellenic Fund, with dedicated streams for education, aged care, childcare, the Hellenic Club and a Pan‑Hellenic Cultural Centre, is a prudent, visionary plan that preserves capital while serving present and future needs. Careful stewardship—avoiding simple distribution that would trigger large capital gains taxes—and unity among brotherhoods are essential.
If managed with transparency, fiscal prudence and a long-range commitment to our cultural continuity, this moment can secure a magnificent legacy for generations to come.
Kind regards,
Gregory Georgantis
President of the Progressive Community of Agiasos Inc NSW
Letter to the Editor by Stavros Kritikos, Former President of the Mytilenian Brotherhood of Sydney & NSW
To the Editor,
I read with great interest the open letter by Constantine D. Vertzayias dated 20 April 2026 regarding the $119.5 million sale of the “Hellenic Village” at Kemps Creek. As the completion of this sale nears, our community stands at a crossroads that will define the Greek Australian legacy for the next hundred years.
While it is tempting to argue for the distribution of these funds among the various brotherhoods and associations that initially contributed, we must consider the long-term cost of fragmentation. As Mr Vertzayias rightly points out, a significant portion of this “divine gift” would likely be lost to capital gains tax if distributed, effectively handing millions of dollars of community wealth back to the government instead of into Greek education, aged care, and culture.
The Greek community in Australia stands at a critical crossroads. Recent census data reflects the challenges of maintaining language and cultural identity across the third and fourth generations. If we divide this $119.5 million into dozens of smaller pots, we may see short gains for individual clubs, but we lose the power of “the whole”.
By establishing a Pan-Hellenic Fund, we ensure that the capital remains intact, generating interest that can sustain our community’s institutions indefinitely. We have the chance to build a “Greek Skyscraper” — “a world-class cultural precinct” — a project that no single association could ever dream of achieving alone.
The brotherhoods and associations displayed exceptional patriotism and selflessness over 30 years by safeguarding it for future generations and choosing to retain the land rather than selling it. I urge their current boards to show that same vision today. Let us not be the generation that chose a one-off payout over a permanent legacy. Let us keep this $119.5 million working for every Greek in NSW, ensuring our identity remains vibrant for our grandchildren and beyond.
Yours sincerely,
Stavros Kritikos
Former President of the Mytilenian Brotherhood of Sydney & NSW
