The Vaults Group opens Reading’s first privately-owned safe deposit box facility

The Vaults Group has invested £1 million in the opening of Reading’s first privately-owned safe deposit box facility, the Reading Vaults.

Located in the former Barclays bank in Tilehurst, Reading, the facility offers safe deposit lockers for various needs, including storing valuables like cash, jewellery, important documents and family heirlooms.

With many banks in the UK no longer offering safe deposit services, The Vaults Group, founded by Irish entrepreneurs Séamus Fahy and David Walsh, has identified a ‘significant gap’ in the market.

“In today’s increasingly digital world, so much onus is being put on protecting online safety, but the importance of physical safety is still paramount,” said Séamus, who’s also head of the Safe Deposit Federation.

“We’ve seen a surge in demand for secure storage solutions, particularly in Berkshire and Reading.

“The Vaults Group has the facility to store items that not only reflect monetary value but also holds deep emotional significance for their owners.

“Beyond traditional valuables like jewellery, our customers are increasingly entrusting items such as luxury bags, watches, property deeds, first edition books and collectibles in our care, making their secure storage even more crucial in today’s uncertain times.”

Reading Vaults offers safe deposit boxes for annual rental prices starting at £200 per year, or £4 per week, which includes £10,000 worth of insurance for the first year.

The facility is open seven days a week, 363 days a year.