Gold bullion trading service to create jobs in Nottingham

A Nottingham safe deposit firm is set to create jobs in the city by introducing a gold bullion trading service.

Speaking to TheBusinessDesk.com, co-founder of Stoney Street-based Nottingham Vaults Seamus Fahy said he was looking to double the number of staff at the facility – which is the first of its kind in the city.

Fahy said: “We’ve been open for three weeks in Nottingham, and we’ve found the demand is huge – especially from the Asian community.

“There are no other safe deposit services in Nottingham; the banks have withdrawn their services as they’ve closed branches and so people are flocking to us.

“We’re very pleased with how the launch has gone and we’re about to introduce a gold bullion trading service, which will see us employ another ten staff in Nottingham.

“We’re also lookig at expanding into Coventry and Sheffield.”

Nottingham Vaults has invested £1 million in its safe deposit lockers based in a 2,000 sq ft unit on Stoney Street. The initial opening will see 2,000 boxes available, with the facility having the capacity to hold up to 5,000.

Clients can visit the vault seven days a week, 362 days a year, with unlimited free access. The facility offers various box sizes to suit all client requirements, with rental from less than £3 per week and discounts available for long-term rentals.

Nottingham Vaults is run by parent company Merrion Vaults, Europe’s largest independently owned safe deposit box company. Established in 2013, the company was founded by entrepreneurs Fahy and David Walsh after they identified strong demand for the service.