Nikoloudi Arcade

The arcade comes to life

In 1897, while still a student, Alexandros Nikoloudis designed the first phase of the building, which included the construction of a short arcade on the ground floor, with shops and a glass ceiling.

Upon completing his studies, he returned to Greece and married Maria Fix in 1916. Then, his property on Panepistimiou Street was extended with the merging of 2 plots, with a façade onto Stadiou Street. 

A single building was erected there in 1918, although it did not provide access from Panepistimiou to Stadiou Street. However, the ground floor layout demonstrated the intention of constructing an arcade with shops, whereas the upper floors housed offices and residences.

The building reflected a type of architecture that does not follow a specific style, moving away from Athenian neoclassicism.

Evolution over time

In the mid-1930s, Nikoloudis decided to erect a building to house a cinema theatre, shops and offices, but the shape of the plot did not allow incorporating a cinema.

So, in 1936, the Arcade took on its final shape, with shops on the entire ground floor, 3 floors with offices and the architect’s apartment on the top floor. 

The building had a distinct European flair with influences from the architectural movement of the École des Beaux-Arts, also drawing inspiration from the London arcades.

The Arcade grew into an important commercial hub, housing shops that left an indelible mark on old Athens, such as the Estia bookshop and Loumidis coffee house.

The glory days

In 1981, during the constructions of the Alpha Bank main building, we created a unique metal scaffold, serving as an extension of the Nikoloudi Arcade onto the work site. This way, we ensured the shops remained open and pedestrians could continue to cross between Stadiou and Panepistimiou Streets. 

When our main building was completed in 1987, the Nikoloudi Mansion and Arcade, majority-owned by Alpha Bank, entered a new golden era. The Nikoloudi Mansion housed our offices and services, while the Nikoloudi Arcade was home to high-end shops, experiencing a new commercial boom.

In 1995, the Mansion was designated as a historical, listed building and work of art by the Ministry of Culture.

The arcade in the present

We make sure the Arcade is properly preserved through time and take steps to support its operation. To this end:

• Between 1997 and 2001, we carried out restoration and renovation works of the listed part of the Nikoloudi Mansion towards Panepistimiou Street.
• From 2012 to early 2015, we undertook the restoration of the Mansion and Arcade following incidents of arson at the centre of Athens. The reconstruction design was carried out by architect Stefanos Kalligas and civil engineer Fotis Tsoulos.
  

Today, we are bringing the commercial character of the Nikoloudi Arcade back to life, renting out the shops to retail businesses under favourable terms and lower rates.