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IBV to open Park Lane Safe Deposit Box facility in former Barclays Bank Vault

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Mayfair buying agency Black Brick has just finalised an interesting acquisition on Park Lane.In a departure from high-end house and apartment sourcing, the firm dug deep to secure an off-market bank vault next to the Dorchester for the South African owner of IBV International Vaults, Ashok Sewnarain, who has plans for a super-luxe storage concept.

The 2,077 square foot subterranean space, formerly leased to Barclays Bank, has been secured on a long lease of 19 years at a passing rent of £172,500 per annum, with a rent-free period to allow for a “luxurious” refurbishment.

IBV will be launching the offering in November as “London’s most prestigious vault”, aimed at HNWIs looking to store their jewels, gold and priceless belongings.

“Guests” will be collected in a chauffeur driven car and driven to the high security premises, where they will enter an “opulent” entrance, complete with a 24 carat gold flecked pavement, and meet one of the firm’s representatives. 3,300 safety boxes will be available in total, and the company also plans to sell gold bars and precious metals from the site.

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