Safekeeping specialist Merrion Vaults is spending up to \u20ac2 million on an expansion that will see it open new safety deposit box centres in Liverpool\u2019s landmark Royal Liver Building, other British cities and possibly Europe.<\/p>\n
Merrion Vaults runs a purpose-built safety deposit box facility on Dublin\u2019s South Cumberland Street, close to Merrion Square, which it opened in 2013 after its founders, businessmen S\u00e9amus Fahy and David Walsh, identified strong demand for the service.
\nMr Fahy confirmed at the weekend that the Irish company is planning to open in Liverpool and Nottingham in England, to follow vaults that are already up and running in Glasgow and Newcastle.<\/p>\n
He revealed that the company is hoping to open shortly in Liverpool\u2019s Royal Liver Building, which dominates the city\u2019s waterfront. \u201cThey have an actual vault there in the basement,\u201d Mr Fahy said.<\/p>\n
He explained that the company requires basements for security reasons. It then fits these out and installs security and motion sensor technology.<\/p>\n
Each facility costs between \u20ac500,000 and \u20ac1 million, depending on the work needed to bring it up to the required standard. Mr Fahy estimated that current expansion plans could cost in the region of \u20ac2 million.<\/p>\n
Merrion Vaults is in talks on potential premises in Nottingham, and could target Edinburgh in Scotland. Customers are driving from Aberdeen and Inverness to get to its base in Glasgow, so there is good demand in the region as a whole.<\/p>\n