Merrion Vaults founders in Glasgow move
Published 28/02/2016 | 02:30
Irish entrepreneurs David Walsh and Seamus Fahy, the founders of the Merrion Vaults, have invested over €1m in a new vault in Glasgow, Scotland.
The new facility is located in the southside of the city, with the men seeking to capitalise on banks withdrawing a service for safeguarding people's valuable possessions.
The new vault includes surveillance technology, such as seismic shock sensors, 24/7 monitoring and biometric identification technology.
The vault is part of Cork-native Walsh and Limerick-native Fahy's plan to expand the Merrion Vaults model across the UK and Ireland.
They expect to grow the numbers employed in Glasgow to 15 by the middle of 2017. Scottish First Minister Nicola Sturgeon was on hand for the launch of the facility.
Fahy recently offered a 15pc discount for Greeks who wanted to store cash and valuables at the vaults, located close to Government Buildings.
"If you lived in Athens, and had €200,000, wouldn't you try to get it out?" he asked Bloomberg. "Apparently, you can't find safety boxes in Greece for love nor money."
The smallest box at the Merrion Vaults costs €199 a year, while a 'strongroom' can be hired for €12,000 a year.
Sunday Indo Business