
Space-efficient they're not, but is there a cyclist alive who wouldn't prefer storing their bike in a locker rather than shackling it to a signpost?
Velo-Safe is a bike locker system produced by UK-based Cycle Works Ltd and reportedly sells them in Europe and the 'States, though I've never spied one. Although I love the idea, I feel the design is simply too bulky to see mass uptake; there are limited situations where you can find dead space to tuck them under, as with the stairwell below, but those types of architectural dead spots are few and far between in crowded cities, which is where these lockers are needed most.

One city that could really use these is Core77's hometown of NYC, where you can find a signpost-shackled bike that's been picked clean of parts on seemingly every other block. But even if we could fit these lockers in our city, it would only be a matter of time before our homeless started living in them. We've got problems, folks.
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One of the best ways to promote widespread use of bikes is to eliminate bike theft and bike part theft. And one of the best ways to do this is to have pervasive deployment of bike lockers. Yes, they're bulky. I say they're worth it. I have never heard of petty bike thieves successfully stealing bikes from lockers. I may be wrong, but as far as I have ever heard, they are exceedingly more secure than any exposed bike locking frame.
I haven't seen these before, but I have seen similar lockers where you store the bike upright- i.e. smaller footprint but taller. they are quite common at train stations in the UK.
why so .. visually unpleasant?
I'd like to see one where it locks with the cyclist's own bike lock. That way I get to use my own lock and key.