The Hellenic Club of Sydney has entered a new period of stability and optimism, with its Board outlining a year of financial improvement, strengthened partnerships and long-term strategic planning at the 2025 Annual General Meeting (AGM) held on Sunday, November 30, at Events by Alpha.
The AGM opened with formal proceedings including apologies, a minute’s silence and adoption of the 2024 minutes, before President Nikolas Hatzistergos delivered a report that marked a clear shift from past difficulties toward a more secure future.
A year of financial consolidation and stability
After several challenging years impacted by the pandemic, shifting CBD work patterns and the fallout from the Club’s former partnership with Public Hospitality Group (PHG), the President confirmed the Club has returned to sustainable positive cashflow for the first time in five years.
In April 2025, the Club refinanced its banking facilities with the Commonwealth Bank of Australia on improved terms, enabling the full repayment of a $1.5 million unsecured loan previously extended to support the Club during a challenging period. The Board acknowledged and thanked Director Greg Gav for waiving the interest associated with this loan, noting that this assistance contributed positively to the Club’s financial recovery.
Public Hospitality Group aftermath and strong partnership with The Dedes Group
The Hellenic Club has continued to responsibly manage the consequences of PHG’s abrupt exit in June 2024 – an issue The Greek Herald has covered extensively, including concerns from members and wedding clients who faced uncertainty after PHG’s collapse.
The President reported that the Club’s new catering partner, The Dedes Group, has consistently met and exceeded its contractual obligations, helping restore stability and confidence.
As part of resolving outstanding PHG-related commitments, the Club reimbursed The Dedes Group approximately $1.1 million for event deposits originally appropriated by PHG for functions held after PHG’s termination. The Club aims to conclude this obligation by March 2026.
The seamless transition to Dedes, combined with their proactive support of affected clients, was highlighted as a major factor in rebuilding goodwill and safeguarding the Club’s reputation following a turbulent period.
Hellenic Village: A strategic turning point
The Board provided a significant update on the future of the Hellenic Village property at Kemps Creek – a major long-term community asset and the subject of ongoing coverage by The Greek Herald over the past two years.
The property is now formally under a sales option, with settlement possibly occurring by December 2026. Proceeds from the sale will be directed toward reducing the Club’s debt with the Commonwealth Bank and investing in upgrades to the Elizabeth Street building.
While the President did not disclose commercial terms, he emphasised that completing the transaction will mark a major structural milestone, enabling the Club to consolidate its financial base, reallocate resources to the city property that serves the highest member activity and position the organisation for stable long-term growth.
This update holds particular community interest given the property’s long history as a planned cultural precinct and the heightened scrutiny surrounding Club assets during the PHG period.
Strengthening community presence
The AGM also highlighted several high-profile events that elevated the Club’s civic and cultural standing during 2025, including:
- successfully hosting the Hellenic Presidential Guard in April under an NSW Government grant, with record attendance and wide media coverage; and
- serving as the venue for the Prime Minister’s final fundraising dinner before the 2025 federal election, attracting senior business and community leaders.
These events, the Board noted, reaffirm the Club’s role as a leading Greek Australian institution and an active contributor to broader civic life.
Level 4 Clubhouse and Governance Updates
The Club confirmed it will reduce opening hours on Level 4 from 1 January 2026, due to declining attendance and the venue’s current operating costs. The Board emphasised that the decision is designed to maintain access during peak times while reducing financial strain.
Members also re-appointed George Barbouttis as auditor, approved Honorary Life Membership nominations for Con Kristallis and John Barbouttis, and returned directors John Comino, James Stevens and Peter Kaliaropoulos unopposed.
Looking ahead to the centenary
With 2026 marking the Hellenic Club’s 100-year anniversary, planning is underway for a year of commemorations and renewed community engagement. Members will be notified of events and initiatives in early 2026.
President Mr Hatzistergos closed his report by thanking members for their ongoing support and wishing the community a joyful festive season.
