All of our products, including wines and spirits held on behalf of our customers, are stored at Locke King Vaults storage facility in Middlesex.
Assets are stored at this Government bonded warehouse:
EHD London No. 1 Bond
Unit E, Dolphin Estate
The wine is kept in bonded warehouse storage, so in effect it is in an offshore location as it is outside of VAT treatment.
It means that you can get beneficial tax treatment of the asset – the same benefits that you would get with a share incentive plan – the tax implications are exactly the same.
Our commitment is to maintain an ongoing service throughout your period of holding. At the end of the period, should you wish to sell your wine, we will happily arrange this for you.CONTACT US
The Weybridge-based underground store was previously an air-raid shelter constructed at the outbreak of the Second World War. Comprising as many as 17 tunnels covering one mile in length, the space was built in 1939 to protect the 5,000 staff working on the construction of fighter aircraft.
The tunnels were dug beneath the first purpose-built banked motor race circuit in the world, Brooklands, which was turned over to production of military aircraft when war broke out. The racing circuit was the brainchild of British entrepreneur, Sir Hugh Fortescue Locke-King, from whom the new facility – Locke-King Vaults – takes its name.
“The preparation of vaults has been very exciting and at times has resembled a scene from the BBC television show Time Team as various artefacts have been pulled from the debris some 65 years after the tunnels were sealed by the Ministry of Defence,” Michael Phelps, director at EHD London No.1 Bond, told Imperial Wines & Spirit Merchants.
“The Locke-King Vaults offers a unique facility, rivalling the best conditions in the United Kingdom to store wine; providing constant temperatures between 12-14 degrees Celsius, perfect humidity and all within close proximity to London,” he added.
The operation will be managed by former Christie’s of London Cellar Manager James Temple, with the assistance of EHD’s staff and resources at the main EHD offices and warehouse on the Brooklands site where the company currently stores in excess of 500,000 cases.
Cost of storage per case per annum is £16.80 which includes VAT.