Nottingham’s first safe deposit box facility has opened in the Lace Market, for individuals and businesses to safeguard their valued possessions.
Nottingham Vaults has invested £1 million in the safe deposit lockers inside a 2,000 sq ft unit in Stoney Street.
The initial opening will see 2,000 boxes available, with capacity to extend that to 5,000.
The vault is protected by security measures including biometric scanners, passcodes and digital photo recognition.
The boxes are said to be bomb proof and have been tested against diamond core drills.
The site also includes a buying and selling service for gold bullion, where transactions can be carried out in a secure environment.
The premises is run by Merrion Vaults, said to be Europe’s biggest independently-owned safe deposit box company, which was established in 2013 by entrepreneurs Seamus Fahy and David Walsh.
They said clients can visit the vault seven days a week, 362 days a year, with unlimited free access.
Most Read
It is the first facility they have opened with automatic access, meaning that customers can get to their box without the assistance of staff.
Rents for the various sized boxes start at less than £3 per week for something that has space to store cash or small valuables, and there are discounts for long-term rentals.
Seamus Fahy said: “We are delighted to be opening in Nottingham – marking our first safe deposit facility not just in the city, but in the wider Midlands region.
“Many major banks no longer offer customers a safe deposit service, and as such the introduction of our vaults around the country has been met with huge appetite as companies and individuals look to secure their valued possessions in a safe place.
“We’re expecting to see customers from all over the Midlands region make use of our unique and first-class service to ensure the safety of their valuables.
“We’ve done everything we possibly can to ensure that our vaults are the most secure in Europe, ensuring they have been diamond core drill tested and are explosion proof to meet the highest industry standards.
“From the beginning, we wanted to make sure that the business model was accessible to any clientele, and so different size boxes are available to suit everyone from the individual to large businesses – plus every customer is offered complimentary insurance of £10,000 per box.
Nottingham business news
Don’t miss
“Our smaller boxes are affordable at less than the price of a takeaway coffee per week, and are suitable for storing cash, small valuables or jewellery.
“The mid-range boxes are designed for housing papers, house deeds and other important documents as well as bulkier valuables, while the larger boxes are ideal for collectable items and valuable artwork – all in a convenient city centre location.”
He said Nottingham Vaults was insured by Lloyds of London and the business was a member of the Safe Deposit Federation.
Since opening its first vault in Dublin, Merrion Vaults has expanded across England and Scotland, with Nottingham the fifth facility.