World’s Rich Are Rattled and Seeking Old-Fashioned Security
- Safe-deposit boxes are back in vogue as recession fears mount
- Some firms say negative interest rates are helping fuel demand
Tunnel leading to a storage facility in Amsteg, Switzerland
Photographer: Michele Limina/Bloomberg
A few blocks from Grosvenor Square in Mayfair, 46 Park Lane resembles a private club with wood-paneled walls and an ornate fireplace dating back to Britain’s Victorian era.
But down a flight of stairs is one of the most secure rooms in London. Built by IBV International Vaults, the steel-walled stronghold is scheduled to open next month and will cater to billionaires looking for a place to stash their most prized possessions.