Dozens of Jewish businesses could be counting the cost after thieves emptied around 300 safety deposit boxes in the heart of London’s jewellery quarter.

Police were called to the Hatton Garden Safe Deposit Ltd business this morning after reports of a burglary over the Bank Holiday weekend.

The building is also used for office space, according to local employees.

Witness Shauli, who works nearby at a jewellery company, said: “A lot of Jews will probably be affected by this – many local businesses keep deposit boxes there.

“There are many Israelis and ultra-Orthodox Chasidic guys who work there too.

“I believe there are around 50 or 60 Jewish businesses there.”

A police spokesman, who confirmed an investigation was ongoing, said: “It appears that heavy cutting equipment has been used to get into a vault at the address and a number of safety deposit boxes have been broken into.”

Anyone with any information is asked to contact Crimestoppers anonymously on 0800 555 111 or call the Flying Squad directly on 020 8785 8655.

On its website, Hatton Garden Safe Deposit, founded in 1954, said it aimed: “To provide our clients a secure and cost-effective solution to store and protect important and irreplaceable personal belongings.”