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@hazzelfrazzel
There's 2 types of magnetic locks, though - fail safe and fail secure. Fail safe is open if there's a power cut. Fail secure has a physical obstruction if the power fails.
When I asked about the bike store to the block of flats where I used to live, the managing agent assured me it was a fail secure lock. Thinking about it a bit more in the context of fire safety, I am fairly sure they'd have just been lying to me, in hindsight!