HomeNewsAustraliaCyprus Community Club works to ‘save, revive and rebuild’ historic institution

Cyprus Community Club works to ‘save, revive and rebuild’ historic institution

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A staple institution for Cypriots in NSW, The Cyprus Community Club has held its place as one of the most important parts of early Greek-Australian history.

Since the COVID-19 pandemic forced the club’s doors to shut, the club’s board has been working to improve the club and ensure its longevity.

“We can say the virus has interrupted us but it has not derailed us,” Cyprus Capital Limited Chairman Sergio Argyrou says in a letter to members.

“As life returns to some normality our mission remains to save, revive and rebuild our Cyprus Community Club and all that this means for our Community.”

Cyprus Club treasurer Andrew Antoniou says that while the club has faced hurdles with COVID-19, it has allowed for them to consolidate and revisit their business model.

“…To help ensure we reach our ultimate goal that will not rely on club business income, but, that of passive income with no debt or borrowings.”

The Cyprus Club treasurer also wishes for the club to “central location for all people of Cypriot and Greek heritage.”

“It is the vision of the current board to finalise the re-zoning, maximise the value of our land and reach the full potential of our current location where our community events, traditions and history have always been.”

Antoniou also thanked the active support of the Cyprus Club members, who have been working hard to help build the wealth of the club.

“We all need to join and help show that our culture and traditions are alive and being passed on to the next generation,” the treasurer says.

Much of the effort in revitalising the Cyrus Community Club has been initiated by Cyprus Capital Ltd, raising the funds needed from the members to refinance the debt currently being faced.

Prior to COVID-19, Cyprus Capital Ltd offered a highly competitive investment opportunity to Community members, earning 3 percent per annum return plus a 30 percent uplift when the loan is repaid by the community. The loan is secured by a mortgage to be held over the Community houses.

“We believe it is a safe, secure, attractive investment, whilst helping the Community achieve its goals,” Mr Argyrou said.

“It is a first for members of any community organisation to be given this opportunity.”

The Chairman assured members that The Cyprus Capital Ltd share offer has not lost its” value or its logic”, encouraging members to help make the Community realise its cultural and economic ambitions.

“Cyprus Capital Ltd has opened the way for all members to save their Community, to have a direct financial stake in their Community.”

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