Cyprus Community of NSW begin Expression of Interest process for sale of Stanmore property


The Cyprus Community of New South Wales have begun the Expression of Interest (EOI) process for the sale of The Cyprus Club at 58-76 Stanmore Road in Sydney’s Inner West.

According to a notice issued to members by President of the Cyprus Community Michael Kyriacou, the Board formed an EOI Subcommittee in February 2024 with the task to select a major real estate firm to manage the EOI process for the total or partial sale of the Club’s Stanmore properties.

Mr Kyriacou said the purpose of the independent EOI Subcommittee was to ensure the independence and integrity of the EOI process, and to allow the Cyprus Club Board of Directors more time to concentrate on the Club’s operations and community activities.

“The EOI Subcommittee duties include liaising with selected real estate firms and to receive and collate serious EOI offers of various scenarios from large, financially strong entities consistent with the Club’s needs to achieve maximum use and return on the properties and safeguard the Club’s operations, assets, and assure the financial viability of the Club and its community mission now and in the future,” Mr Kyriacou said.

“It is not the duty of the EOI Subcommittee to select which EOI offer or scenario to accept, but to merely present to the Cyprus Club Board of Directors with the best EOI offers based on various scenarios preferred by a potential buyer, all of which will be put to the members.”

The EOI Subcommittee consists of the following Community members: George Phillips, Con Pavlou, Pandeli Antoniou, and Alkis Kadi.

cyprus club stanmore
The property at Stanmore.

Expressions of Interest by real estate firms

Four major real estate firms have been interviewed in depth by the EOI Subcommittee and were asked to submit offers to become the exclusive selling agents.

The EOI Subcommittee sat through several interviews with representatives from various large real estate firms and then evaluated written submissions they made.

After carefully considering the written submissions received and the interviews conducted, the EOI Subcommittee unanimously decided to select the international real estate firm CUSHMAN & WAKEFIELD as the exclusive real estate firm. This decision was based on the following:

  • The professionalism and commitment displayed by their four Senior Executives.
  • The quality and professionalism of the written submission presented.
  • The international contacts and experience in selling large scale projects worldwide.
  • The competitive commission they offered.

Following the selection of CUSHMAN & WAKEFIELD as the Club’s exclusive agents, the EOI Subcommittee held several meetings with them to finalise the international and local Marketing Strategy to be adopted.

The marketing ‘Information Memorandum’ and various other marketing documents have now been finalised and will go live to local and international investors / developers in early May 2024.

This decision to start the EOI process comes amid turmoil between members of the Cyprus Community and the Board of Directors over the future of the Cyprus Club at Stanmore and whether to ‘stay or sell’ the property.

READ MORE: Cyprus Community of NSW cancels Extraordinary General Meeting




By subscribing you accept our Terms of Service and Privacy Policy.


Latest News

Panagia Soumela Monastery: Pilgrimage to the ancient cradle of Pontic Hellenism

Carved into Mount Melas in Trabzon, the Monastery of Panagia Soumela has stood proudly for over 1,600 years.

Memories that ‘bleed’: A visit to the Armenian Genocide Museum

The wine, the conversation with Maria and Aram, all pieces in the puzzle of my stay in Armenia’s capital had been carefully placed.

Australian Business Summit Council launch fifth issue of ‘Ekonomos’

The Australian Business Summit Council Inc. hosted 250 business leaders, diplomats and politicians at its lavish Annual Gala Dinner.

Dora and George Hatzikiriakos’ fish and chip shop among the best on NSW South Coast

The Eurobodalla on the NSW south coast is home to some of the best fish and chip joints. "Harzikiriakos' Ocean Grill is one of them.

Two Greek beaches among Tripadvisor’s top European beaches for 2024

Greece saw two beaches included in Tripadvisor’s Best Beaches in Europe for 2024, as part of its annual Travellers’ Choice Awards.

You May Also Like

Largest collection of Indigenous Australian art to go on display in Cyprus

Australia and Cyprus celebrate 50 years of bilateral diplomatic relations with an exhibition of Indigenous Australian art in Cyprus.

Remembering bouzouki master, Giorgos Zampetas.

Giorgos Zampetas is a well-known Greek composer and bouzouki master. To mark the occasion of his birth, we take a look back at his life.

Lefteris Arapakis: The Greek named the UN’s ‘Young Champion of the Earth’

Lefteris Arapakis was named one of seven 'Young Champions of the Earth' by the United Nations at the end of 2020.