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Chiswick is chosen as location for new safe deposit vault

10 July 2018

The leading independent safe deposit box operator, Metropolitan Safe Deposits, is expanding its branch network into West London.

With over 15,000 customers at its Central London vaults in Knightsbridge and St John’s Wood, Metropolitan Safe Deposits has decided to expand into West London. Chiswick High Road will be its first location. According to its Chief Executive, Christopher Barrow, there is “a dearth of vaults at the premium end of the market in West London”. He went on to explain that “the banks are continuing to exit safe custody and many of our West London-based customers are now travelling significant distances to deposit their valuables in our Central London vaults. Whilst reputation and trust are fundamental ingredients to a successful safe deposit business, proximity to the customer is also important. It therefore makes sense for us to provide more convenient facilities closer to home for our fast-expanding West London client base”.

Metropolitan has spent a great deal of time researching the best locations for its new branches. In addition to its existing client footprint, Metropolitan has carried out extensive analysis of online data and has conducted numerous field trips. This research allows the company to select the most suitable locations to match its premium brand and customer profile. Each specific site is chosen very carefully in order to satisfy Metropolitan’s demanding requirements for a new-build vault, not least for reasons of security and scale. The company spokesman highlighted the fact that “a substantial basement for the vault, ample ground floor office space and, crucially, the ability to control physical access into the building are key prerequisites”.

Three important factors lie behind the choice of Chiswick: favourable population demographics; excellent transportation links; and, thirdly, a diverse mix of residential, retail and office properties in an affluent West London suburb. Like Knightsbridge and St John’s Wood, Chiswick has a vibrant high street that sits at the heart of a rich and dynamic community. The nearest station to the new vault is Chiswick Park tube station on the District Line, less than five minutes’ walk away. Gunnersbury and Turnham Green tube stations are also within easy walking distance from Metropolitan’s new branch. Many bus routes pass the property. Nearby ‘pay and display’ car parking is also available.

In addition to excellent tube station and bus connections, the new location in Chiswick High Road is conveniently a short drive westwards to the Chiswick Roundabout and Hogarth Roundabout. These well-known road junctions lead directly to the North Circular Road, South Circular Road and the Great West Road (A4) that converts to the M4 motorway. The M4 provides a direct connection to Heathrow Airport and the M25 Motorway. The A4 runs eastwards into Central London via the Hogarth Roundabout, where it meets the Great Chertsey Road that runs south-west, eventually joining the M3.

The specific location of Metropolitan’s new vault is 329 Chiswick High Road, London W4 4HS. The property is on a prominent corner position on the south side of Chiswick High Road and a short distance from the public park, Turnham Green. Besides being one of West London’s most sought after residential areas, the safe deposit facility will be within a few minutes’ walk of the many shops, restaurants, bars, pubs and cafés that are located on Chiswick’s broad, leafy high street. Chiswick High Road was voted one of the top five high streets in London in the 2015 Great British High Street competition. In addition, it is close to the major retail banks (which no longer offer safe custody) and a growing number of office blocks including the huge Chiswick Business Park, which is no more than 300 metres away from the new vault location.

The company has secured a long lease on the ground floor and basement of a newly-built block with apartments on the upper floors. The vault itself and the safe deposit lockers are being designed and built by the leading manufacturer of physical security products, Robur Safe AB of Sweden. Metropolitan’s current owners, who have been managing the business for over 11 years, have invested heavily on upgrading their existing 35-year-old branches into world-class vaults. Each vault incorporates sophisticated alarm and surveillance systems, of which certain features are unique to Metropolitan. Equally importantly, Metropolitan employs high-quality and well-trained staff. Chiswick will be no exception.

The new site is currently in "bare shell" condition. Metropolitan believes that the near £2 million project will take around nine months to build into a modern vault with an estimated capacity of 8,000-9,000 safe deposit boxes. Planning approval has been received from the London Borough of Hounslow. It is envisaged that the opening of the new branch will be in early 2019. A large number of box sizes will be offered starting from the smallest box costing only £95 per year (incl. VAT). Whether you are living or working in fashionable Chiswick, you will be secure in the knowledge that Metropolitan's newest safe deposit vault will soon be on your doorstep.

ENDS

Notes to Editors

For more information contact:

Company Spokesman

Contact: Christopher Barrow, Group Chief Executive, Metropolitan Safe Deposits Limited
Address: 19 Cheval Place, Knightsbridge, London SW7 1EW
Tel: +44 20 7581 1212
Email: cb@metrosafe.co.uk