
<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                               -----------------


                                   FORM T-1

                   STATEMENT OF ELIGIBILITY UNDER THE TRUST
                    INDENTURE ACT OF 1939 OF A CORPORATION
                         DESIGNATED TO ACT AS TRUSTEE

             CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A
              TRUSTEE PURSUANT TO SECTION 305(b)(2) ____________

                               -----------------

                              THE BANK OF NEW YORK
              (Exact name of trustee as specified in its charter)


                New York                                 13-5160382
     (Jurisdiction of incorporation                   (I.R.S. Employer
      if not a U.S. national bank)                   Identification No.)

   48 Wall Street, New York, New York                      10286
(Address of principal executive offices)                 (Zip code)

                               -----------------

                              PIERCE LEAHY CORP.
              (Exact name of obligor as specified in its charter)


              Pennsylvania                               23-2588479
      (State or other jurisdiction                    (I.R.S. Employer
   of incorporation or organization)                 Identification No.)

            631 Park Avenue
     King of Prussia, Pennsylvania                         19406
(Address of principal executive offices)                 (Zip code)

                               -----------------

                    __% Senior Subordinated Notes due 2007
                      (Title of the indenture securities)
<PAGE>
 
Item 1.   General Information.*



          Furnish the following information as to the Trustee:
 
     (a)  Name and address of each examining or supervising authority to which
          it is subject.
 
<TABLE> 
<S>                                        <C> 
Superintendent of Banks of the             2 Rector Street, New York, N.Y. 10006
  State of New York                          and Albany, N.Y. 12203
Federal Reserve Bank of New York           33 Liberty Plaza, New York, N.Y. 10045
Federal Deposit Insurance Corporation      550 17th Street, N.W., Washington, D.C. 20429
New York Clearing House Association        New York, N.Y.
</TABLE>

     (b)  Whether it is authorized to exercise corporate trust powers.
 
          Yes.

Item 2.   Affiliations with Obligor.

          If the obligor is an affiliate of the trustee, describe each such
          affiliation.

          None. (See Note on page 2.)

Item 16.  List of Exhibits.

          Exhibits identified in parentheses below, on file with the Commission,
are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-
29 under the Trust Indenture Act of 1939 (the "Act") and Rule 24 of the
Commission's Rules of Practice.

          1.   -   A copy of the Organization Certificate of The Bank of New
                   York (formerly Irving Trust Company) as now in effect, which
                   contains the authority to commence business and a grant of
                   powers to exercise corporate trust powers. (Exhibit 1 to
                   Amendment No. 1 to Form T-1 filed with Registration Statement
                   No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with
                   Registration Statement No. 33-21672 and Exhibit 1 to Form T-1
                   filed with Registration Statement No. 33-29637.)

          4.   -   A copy of the existing By-laws of the Trustee. (Exhibit 4 to
                   Form T-1 filed with Registration Statement No. 33-31019.)

          6.   -   The consent of the Trustee required by Section 321(b) of the
                   Act. (Exhibit 6 to Form T-1 filed with Registration Statement
                   No. 33-44051.)

          7.   -   A copy of the latest report of condition of the Trustee
                   published pursuant to law or to the requirements of its
                   supervising or examining authority.




--------------------------

     *Pursuant to General Instruction B, the Trustee has responded only to 
Items 1, 2 and 16 of this form since to the best of the knowledge of the Trustee
the obligor is not in default under any indenture under which the Trustee is a
trustee.
<PAGE>
 
                                      NOTE
                                        
          Inasmuch as this Form T-1 is being filed prior to the ascertainment by
the Trustee of all facts on which to base a responsive answer to Item 2, the
answer to said Item is based on incomplete information.

          Item 2 may, however, be considered as correct unless amended by an
amendment to this Form T-1.



                                   SIGNATURE

          Pursuant to the requirements of the Act, the Trustee, The Bank of New
York, a corporation organized and existing under the laws of the State of New
York, has duly caused this statement of eligibility to be signed on its behalf
by the undersigned, thereunto duly authorized, all in The City of New York, and
State of New York, on the   th day of May, 1997.


                                             THE BANK OF NEW YORK

 
                                             By:   /s/ Lucille Firrincieli
                                                ----------------------------
                                                     Lucille Firrincieli
                                                  Assistant Vice President

                                      -2-
<PAGE>
 
                                                                     EXHIBIT 7
                                                                   (Page 1 of 3)

                      Consolidated Report of Condition of
                              THE BANK OF NEW YORK
                    of 48 Wall Street, New York, N.Y. 10286

          And Foreign and Domestic Subsidiaries, a member of the Federal Reserve
System, at the close of business December 31, 1996, published in accordance with
a call made by the Federal Reserve Bank of this District pursuant to the
provisions of the Federal Reserve Act.

<TABLE>
<CAPTION>
                                                                 Dollar Amounts
ASSETS                                                            in Thousands
------                                                           --------------
<S>                                                     <C>      <C> 
Cash and balances due from
  depository institutions:
  Noninterest-bearing balances
    and currency and coin........................................   $ 6,024,605
  Interest-bearing balances......................................       808,821
Securities:
  Held-to-maturity securities....................................     1,071,747
  Available-for-sale securities..................................     3,105,207
Federal funds sold in domestic
  offices of the bank:...........................................     4,250,941
Loans and lease financing
  receivables:
  Loans and leases, net of unearned
    income..........................................    31,962,915
  LESS: Allowance for loan and
    lease losses....................................       635,084
  LESS: Allocated transfer risk
    reserve.........................................           429
  Loans and leases, net of unearned
    income, allowance, and reserve...............................    31,327,402
Assets held in trading accounts..................................     1,539,612
Premises and fixed assets (including
  capitalized leases)............................................       692,317
Other real estate owned..........................................        22,123
Investments in unconsolidated subsid-
  iaries and associated companies................................       213,512
Customers' liability to this bank on
  acceptances outstanding........................................       985,297
Intangible assets................................................       590,973
Other assets.....................................................     1,487,903
                                                                    -----------
Total assets.....................................................   $52,120,460
                                                                    ===========
</TABLE>
<PAGE>
 
                                                                     EXHIBIT 7
                                                                   (Page 2 of 3)
<TABLE>
<CAPTION> 
<S>                                                    <C>          <C> 
LIABILITIES
-----------
 
Deposits:
  In domestic offices...........................................    $25,929,642
  Noninterest-bearing...............................   11,245,050
  Interest-bearing..................................   14,684,592
  In foreign offices, Edge and
  Agreement subsidiaries, and IBFs..............................     12,852,809
  Noninterest-bearing...............................      552,203
  Interest-bearing..................................   12,300,606
Federal funds purchased and securities
  sold under agreements to repurchase
  in domestic offices of the bank and
  of its Edge and Agreement subsidiaries,
  and in IBFs:
  Federal funds purchased.......................................      1,360,877
  Securities sold under agreements to
    repurchase..................................................        226,158
Demand notes issued to the U.S.
  Treasury......................................................        204,987
Trading liabilities.............................................      1,437,445
Other borrowed money:
  With original maturity of one year or less....................      2,312,556
  With original maturity of more than
    one year....................................................         20,766
Bank's liability on acceptances
  executed and outstanding......................................      1,014,717
Subordinated notes and debentures...............................      1,014,400
Other liabilities...............................................      1,721,291
                                                                     ----------
Total liabilities...............................................     48,095,648
                                                                     ----------

EQUITY CAPITAL
--------------

Common stock....................................................        942,284
Surplus.........................................................        731,319
Undivided profits and capital
  reserves......................................................      2,354,095
Net unrealized holding gains (losses)
  on available-for-sale securities..............................          7,030
Cumulative foreign currency
  translation adjustments.......................................     (   9,916)
                                                                    -----------
Total equity capital............................................      4,024,812
                                                                    -----------
Total liabilities and equity capital............................    $52,120,460
                                                                    ===========
</TABLE>
<PAGE>
 
                                                                     EXHIBIT 7
                                                                   (Page 3 of 3)

          I, Robert E. Keilman, Senior Vice President and Comptroller of the
above-named bank do hereby declare that this Report of Condition has been
prepared in conformance with the instructions issued by the Board of Governors
of the Federal Reserve System and is true to the best of my knowledge and
belief.

                                                              Robert E. Keilman


          We, the undersigned directors, attest to the correctness of this
Report of Condition and declare that it has been examined by us and to the best
of our knowledge and belief has been prepared in conformance with the
instructions issued by the Board of Governors of the Federal Reserve System and
is true and correct.

          J. Carter Bacot  )
          Thomas A. Renyi  )      Directors
          Alan R. Griffith )
