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Massive 1,500 Ton Gold Vault For Sale In The Heart Of London, One Previous Owner, Asking £4,500,000 O.B.O.
Back in June 2013, when Deutsche Bank opened a gold vault in Singapore which could hold up to metric 200 tons, the German bank was euphoric about the prospects for storing physical gold: "Gold has traditionally been stored in London, Zurich and New York, but there is a serious shift in dynamics going on as the global financial crisis continues to evolve," Mark Smallwood, Deutsche Asset & Wealth Management's head of wealth planning in the Asia-Pacific region, told The Wall Street Journal.
Mark was correct and thanks to the ongoing decline in gold prices, Chinese and Indian demand for the metal, the physical metal that is, not its various paper manifestations, has risen to record levels. Alas, one thing Mark did not know is that in early 2014, a German regulator would reveal that "precious metals manipulation was worse than the Libor scandal" and as a result the largest German bank (and largest bank in the world by notional derivative exposure) - which is currently being probed for gold-rigging - would quietly liquidate its entire physical precious metals trading group.
Which means that Deutsche Bank's Singapore gold vault, barely a year old, is about to go on sale.
But while one can debate when the brand new storage facility will see a "for sale" sign attached to the main vault door, one thing is clear: Deutsche Bank's massive, and even newer, gold vault in London is already looking for offers. According to Reuters, Deutsche Bank is "open to offers for its London-based gold vault following the closure of its physical precious metals business."
"If the right offer came along, then the bank would sell the London vault," one source close to the situation said.
One source familiar with the matter said Deutsche is still assessing whether to shift its vaulting business from its investment banking arm (CB&S) to its Global Transaction Banking (GTB) business, which includes custodial services. Deutsche declined to comment on the status of its vaulting operation.
The bank's London gold vault only became operational in June this year, more than two years after launching the project. It can store some 1,500 tonnes of gold and was built and managed by British security services company G4S.
As Reuters observes, with other banks withdrawing from the commodities business to cut costs and reduce their regulatory burden, it could be difficult for Deutsche Bank to find buyers amongst its nearest peers. However, one possible buyer is Chinese bank ICBC, which is trying to build a presence in London and the sources said it was a likely candidate.
The Chinese bank will finalise the acquisition of a 60 percent stake in Standard Bank's London-based global markets unit at the end of January 2015.
"It would make perfect sense for them to enter the vaulting business and I'm sure they are interested," one of the sources said.
Perhaps. Or perhaps Reuters' source is a little too excited once again. Recall it was Reuters' reporter Clara Denina who back in February, when Deutsche Bank was looking to dump its seat at the London gold fix, reported that "ICBC, is in prime position to buy the Deutsche seat. "Standard Bank is a shoo-in for the fixing seat - they want it, and it would be acceptable to the other members," a senior gold market source told Reuters. "It's just whether they can agree a fee.""
Considering that no sale materialized, perhaps China is not that eager to pick up Deutsche Bank's manipulated gold pieces after all.
But perhaps other buyers will step up. So it is for their benefit that we once again disclose the "secret" location of the Deutsche Bank vault, which as revealed in the G4S building application, is located in the Park Royal complex, and specifically at the 291 Abbey Road, London NW10 7SA location.
The reinforced street-side entry to the vault complex can be seen on the Google streetview map below:
Curious what the starting asking price may be? According to Clay Street property consultants, the 291 Abbey road property was marketed in November 2011, and the 1.89 acre site attracted a broad range of interest including institutional investors, property companies, developers and owner occupiers.
Securing 15 bids all at in excess of the asking price the site was sold in April 2012 to an owner occupier for £4,500,000 reflecting a price of £2.38m per acre. Considering the firesale nature of the transaction, the current owner will be more than happy to eat all improvement and additional construction fee incurred since the purchase.
So you want to be the proud owner of a massive "secret" vault in London, one which was supposed to be used by Deutsche Bank? Then just make sure you have £4,500,000 ready. O.B.O.
h/t Ro
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Vaults are no longer needed in London as all the gold has moved East?
One can always store caravans. Big market
There is no way on earth that that is a gold vault.
Why buy a gold vault where the city if London pranksters have the spare key?
Physical gold and silver market problems with widespread accusations of fraud at the LBMA so the players are leaving the physical market:
http://www.safehaven.com/article/36164/physical-market-stress-major-gold-market-players-departing
Perhaps the players are getting as far away from the paper rigged market as it gets set to blow.
Gold vault for sale. Never used. Free nail gun and joke gold plated tungsten bar with purchase!
after 160 years in this business???
Johnson Matthey to leave gold, silver refining businesshttp://www.recyclingtoday.com/Article.aspx?article_id=178790
Since the most of the financial and securities markets are a fantasy, maybe they can use the London vault for Ukrainian gold-sprayed lead or maybe even Ferengi Gold-Pressed Latinum.
The Singapore vault will have a more practical use.
Just dig a hole to china and fill that.
The LBMA is toast.
No more use for this vault.
Maybe change it a document storage facility.
Say.... unless my memory is slipping, isn't the location "conveniently' near RAF Northolt?
The Phys GOLD Is Gone, Bitcheeze...
Empty London GOLD Vaults ==> Stay EMPTY.
I could use that vault. After inserting my gold i'd still have room for 1.49999 tons of something else. My wife does have a lot of shoes.
http://www.aqua-calc.com/calculate/volume-to-weight
80 cubic meters (solid) gold = 1 545.6 tonnes
we could round...80 cubic meters (solid) would fit in the back of two 40 foot truck trailers.
So...if you store it in bars the volume consumed is probably twice that of solid.
ps: yes, i realize there is no truck strong enough to carry 750 tonnes of anything.
So...maybe you need a couple of acres because you're also storing Silver...or something else....but you'd sure think the vault would be in the center of the property, surrounded by layers of security
And store the gold on the blockchain.
All they needed was a computer to keep track of paper/computer x's and o's.
Must have been for show, like they would really have it there.
Indeed, what's a trillion between friends?
Maxwells Silver Hammer is about to come down.
Previous (gold painted) lead vault.
It's grim up Park Royal
There one empty in ky too. Might get a good deal it needs pressure washed and a weedeater
There's one empty (vault) in ky (jelly,) too.
Before I place my bid. How much is it gonna cost me to seal up the secret tunnel to the loading docks?
craiglist ad:
Fast Freddies AMAZING Real Estate Deals
Business for sale one metals business in "mint" unused condion. Includes building, parking garage, underground bunker with survival kits and a helo pad with get away copter with daily service to tax haven islands (other more private destinations available on request).
Price includes all inventory. over one hundred gallons of premium Foolux gold tone paint, lead smelter, a years supply of Rat food. mockup armored car and Yes even both Krugerands are included with this amazing deal with over 10000 documented buyers for each. Close to the Dragons headquarters in the City of London with incorporated protection, for those pesky soveriegn regulators.
Like us, it wont last long.
Paul is the Walrus.
Whoever does buy it, they should not be a Financial Company or Bank. They need to keep from the US pressure that will be put on them to report on the contents and customers.
Just worthless relic buyers, nothing to see here...
/s
Bargain basement.
All they need are filing cabinets. Nobody wants to steal all that paper.
It was obsoleted by a thumb drive....
There is no need for vault in a fantasy world is there?
How many bankers can be locked up in there for life? How ironic it would be for a banker to pull a lifer in an old bank vault.
Make for a nice Doomdominium.
See, selling off all the gold to the east does have its advantages.
The banksters need to repay us.
But then, where will they store Venezuela's gold?
Seems ridiculous to pay for all that secured vault space to store some IOUs. Whatever was going to happen to all the physical gold, has already happened.
Visa, MasterCard Stop Supporting Bank Cards in Crimeahttp://www.foxbusiness.com/economy-policy/2014/12/26/visa-mastercard-sto...
Good luck collecting on those overdue accounts.
Not to worry... Yellen will cover for you.
won't even hold $1B in silver....need a bigger vault...although it would work for gold
Pretty risky to store your precious metals in London or the US to be honest (the heart of corruption).
Private vaults or not, those governments are more likely to change the laws under capital controls if the shit really hit the fan to seize control of those assets.
And they would do it in a blink of a eye, you wouldn't know what had happen until it was too late to do anything about it.
If Deutchebank is _selling_ their vault, isn't that instructive in some way?
http://www.globaldeflationnews.com/gold-elliott-wave-update-for-week-end...
Sure it is, but it has absolutely nothing to do with EW theory and rigged markets.
Is that "instructive to you in some way"?
Are there any gold vaults that aren't empty?
http://en.m.wikipedia.org/wiki/Executive_Order_6102
What's to stop Emperor Obomber from going FDR?
Most Americans kept their gold back then (my Dad is 93 and told me so many times). They simply refused to turn it over.
Gold is a global market now. It wouldn't work at all. Just another idiotic and irrational idea that gets floated around by anti PM trolls.
https://resourcecenter.secure.force.com/pbs/propertydetail?id=a0X3000000...
Plum Island for Sale.
Massive? My quick calculations say a 10ftx10ftx25ft room would hold 1500 tons of gold. Hell, who needs a vault, I would just weld it together and run 440 through it.
Wouldnt running 440 through it melt the gold though?
At least it will be secure in a zombie apocalypse.
Urban bunker?
Urban bunker?
I laugh at the lemmings fooled into buying nuggets for $1800 per oz when S&P was 900.
You morons deserve the whipping you got.
I called it falling to $1100. Maybe lower now
So, you've been here a half a year or so and a have a whole six posts under your belt.
Anything else you want to share with us on gold and stawks?
The reason so many vault are for sale because They need only a file cabinet for that type of gold....
But ... But ... But ... all these important market commentators say there is no manipulation.
There is no need for a vault in London. There is just no demand for physical gold in London.
The demand for CD racks for storing Beatles CDs is much higher demand