AN IRISH COMPANY has set up Ireland’s first independent safety deposit box facility following what they described as a “huge demand” for the service.

Merrion Private Vaults was launched after a survey found people sought to store their valuables safely as burglaries rise and confidence in banking falters.

The company plan on hiring up to 20 people directly in the company and in supporting services, which is set to open in September.

Merrion Private Vaults is the brainchild of David Walsh, who works in advertising, and jeweller Seamus Fahy, and is located just off Merrion Square in Dublin.

Traditionally banks have provided boxes in various branches but are now ceasing or have ceased to provide them, said Fahy.

“People from urban and rural areas have indicated that as the bank closed its branch in the area, they have nowhere to put valuables. Home burglaries – often with extreme violence – are on the increase,” he added.

The vault, which have been constructed using the very latest state-of-the-art security technology, will have several thousand safety deposit boxes of varying sizes and can be rented on an annual basis.

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