A few blocks from Grosvenor Square in Mayfair, 46 Park Lane resembles a private club with wood-paneled walls and an ornate fireplace dating back to Britain\u2019s Victorian era.<\/p>\n
But down a flight of stairs is one of the most secure rooms in London. Built by IBV International Vaults, the steel-walled stronghold is scheduled to open next month and will cater to billionaires looking for a place to stash their most prized possessions.<\/p>\n
\u201cWe\u2019re getting calls every week about a room available for 2.5 million pounds ($3.2 million) a year,\u201d said Sean Hoey, managing director of IBV London, referring to an apartment-size space. The firm, which also has 550 safe-deposit boxes on site and room for about 450 more, is betting on London\u2019s reputation as a \u201csafe haven,\u201d even with Brexit.<\/p>\n
World\u2019s Rich Are Rattled and Looking for Old-Fashioned Security
\n46 Park Lane
\nThis will be IBV\u2019s sixth location, and it\u2019s hardly the only such firm fielding queries from the wealthy. From London to Switzerland to parts of the U.S., the rich are looking to store precious metals, cash and cryptocurrency. For some, it\u2019s the threat of a global recession. Others are avoiding bank deposits as negative interest rates force lenders to charge for holding cash. Many are concerned about natural disasters.<\/p>\n