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Merrion Vaults invests £1m (€1.17m) in Newcastle facility

A £1m (€1.17m) investment by the Irish-based Merrion Vaults in Newcastle in the United Kingdom is set to create the city’s first safe deposit facility.

The new facility, which is known as Newcastle Vaults, is owned by Merrion and has been launched in response to major banks withdrawing safety deposit box services.

It follows similar initiatives by Merrion in Dublin and Glasgow.

The company’s Co-founder David Walsh said the move into Newcastle “is part of our ambitious plans for further growth across the UK.

“We’re looking forward to building the business in the city, providing a much-needed service that will ultimately give peace of mind to people who require a safe haven for their valuable and irreplaceable possessions.”

Meanwhile, Co-founder Seamus Fahy, said: “Cost-cutting measures at high street banks means that secure storage is being phased out and so customers who rely on the boxes to keep their treasured items safe are now left with having nowhere to store them.”

Based in the centre of Newcastle, and with capacity for 15,000 boxes, it offers safe-keeping services to private individuals and businesses, allowing them to safeguard items such as cash, jewellery, family heirlooms, title deeds, and gold bullion.

The state-of-the-art purpose built vault includes surveillance technology such as seismic shock sensors, round-the-clock monitoring, and biometric identification technology.

(Originally published here)

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Stash the cash: Keep your money and valuables safe

Keeping valuables at home is an open invitation to burglars, so why not keep them in a secure vault. asks Mark Keenan.

A wealthy Dublin-based entrepreneur is heading off to see a hypnotist this week – to help him remember where he stashed a wad of tens of thousands of euro he had hidden in a „safe place“ in his house.

Having hidden away several stacks of cash for a rainy day, he recently went to retrieve them and discovered he couldn’t account for that last hiding hole.

Household stash mishaps are becoming far more common among the super rich.

Last year the gardai recovered more than 200 grand concealed in the former home of developer Tom McFeely on Ailesbury Road in Dublin 4 (Mr McFeely has denied it is his). Whoever put it there, had certainly hidden it away, believing it to be safe.

Then there was the case of the Barnardos curtains in highbrow Dublin 6. Charity shop staff discovered thousands of euro sewn into a pair of curtains donated by a resident in the area. The money was returned to the embarrassed owner after the shop issued an appeal through the gardai.

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