A safe deposit box company is set to launch a £1 million facility in Nottingham and is searching for suitable sites in other major cities, national commercial property consultancy Lambert Smith Hampton (LSH) has announced.
Working on behalf of client Shavo Ltd, LSH identified a basement unit at the Lace Market for the storage vault where customers will pay to keep valuable belongings including jewellery, heirlooms, family photos, key documents and other important items.
Ben Silcock, surveyor at LSH in Nottingham, said Shavo had agreed a 35-year lease in an off-market transaction for a unit at the city’s Creative Quarter. For security reasons, the exact location cannot be revealed.
“This new £1 million storage vault will be welcomed by thousands of people in Nottingham who at the moment have nowhere secure to store valuable items. Shavo Ltd has already opened similar facilities in Liverpool, Newcastle, Dublin and Glasgow and we have been instructed to find suitable premises to support the company’s expansion plans.
“Having secured units in Nottingham and Newcastle for the company, we are now exploring off-market opportunities in Wolverhampton, Coventry and Derby, looking for similar properties in secure locations in anonymous buildings.”
The new unit will be known as Nottingham Vaults. Co-owner Seamus Fahy said they were aware of huge demand for a safe deposit box facility in the city because so many potential customers had contacted them through their website to register their interest.
“We knew there was going to be demand in Nottingham but it was then tough to find the right location. It had to be a secure, safe location in an anonymous building so people can come and go without anyone knowing where they are visiting. The Lace Market unit is perfect and we’ve now installed a purpose-built vault which exceeds bank standards, which will hold several thousand boxes when full.”