In 1994 Olympia Commercial Centre is opened as Woolwoorth Olympia and is part of several Woolwoorth department stores opened across Cyprus. They are considered more luxurious than their UK counterpart.
History of Olympia Commercial Centre
After a buyout of the Woolwoorth brand, all stores are renamed as Ermes.
As Debenhams UK aquires a stake in the Cyprus operation, all stores are renamed Debenhams.
While operating as Debenhams Olympia the front entrance was remodeled and featured LED-Lighting across the front of the facade making it a very striking landmark at the seafront.
In an effort to offer customers a better selection in the supermarket in the department store, Debenhams FoodHall was replaced by SPAR.
As Debenhams PLC shuts down many stores in the UK and struggles to keep in business, all stores in Cyprus are renamed ERA, including Olympia, which contines operation as ERA Olympia.
In an attempt to offset it’s debt, Ermes Group sells Debenhams Olympia to Bank of Cyprus in addition to another department store.
Following the sale of Olympia Commercial Centre to the Bank of Cyprus (REMU Real Estate Management Unit) ERA Olympia was scheduled to close down somewhere in April 2022 as leases would expire.
Olympia Pop Up Outlet was a temporary shop, which only utilized the ground floor of the building. The other floors were inaccesible. Olympia Pop Up Outlet closed down in late 2022 after only being open briefly.
After 29 years of being open, Olympia Commercial Centre seemingly closed it’s doors for the last time. Ever since the closure of Olympia Pop Up Outlet, there seems to have been no activity at the building, besides taking measures to prevent intruders from trying to enter the building and some periodic maintenance. It‘s future is still unknown.
After the closure of Olympia Pop Up Outlet there is still no activity at the building. While there is still power to the building nothing else seems to be happening at the building. Some periodic cleaning of the premises seems to take place. There are no longer people seen in the garage stealing copper wiring from light fixtures and other cables. The front entrance appears to be maintained a bit.
