CABINET - 16TH NOVEMBER 2017

Report of the Director of Housing, Planning and Regeneration and Regulatory Services

Lead Member: Councillor Vardy/Cllr Harper-Davies

Part A

ITEM 13 DISPOSAL OF LAND TO TAYLOR’S BELL FOUNDRY, LOUGHBOROUGH

Purpose of Report To consider a request from Taylor’s Bell Foundry to acquire a small piece of Council owned land, to assist in delivering the comprehensive restoration of the site and helping to secure a viable future. Recommendations 1. That Cabinet approve the disposal of land identified in Appendix A, subject to

the Bell Foundry having sufficient funding in place to progress their development project.

2. Subject to the Loughborough Bellfoundry Trust paying any legal costs

associated with the transfer of land; that the land is disposed of at nil cost, as the Council’s capital contribution to the scheme, to support the viability of the scheme and to work in partnership with the Bell Foundry.

3. That the Housing Revenue Account be compensated with the capital value of

the land as estimated by the District Valuer, in the sum of £2,200, from the capital plan reserve, to ensure that there is no burden on tenants in relation to the contribution.

4. That Cabinet notes the community engagement being undertaken by the Bell

Foundry, in partnership with the Council, in the Bell Foundry Estate. 5. That delegated authority is given to the Strategic Director of Housing,

Planning and Regeneration and Regulatory Services to progress the transfer of the land subject to recommendation 1. above.

Reasons 1. To assist in the development of the project and ensure that the disposal is

only completed if the scheme is certain to go ahead. 2. To assist in the delivery of the scheme which will improve the environment for

local residents and support this important business and visitor attraction, in one of the priority neighbourhoods.

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3. The land is currently an asset within the Housing Revenue Account, and as the scheme is for the benefit of the wider local economy and is being disposed of at less than market value, there should be no detriment to tenants.

4. There has been resident engagement in the local area to ensure that

residents are not adversely affected by the proposals. 5. To ensure that any disposal is completed only if the scheme is viable and

certain to be delivered, given the outcome of the application for lottery funding is not yet known.

Policy Justification and Previous Decisions One of the Corporate Plan themes is around Creating a Strong and Lasting Economy. The Councils Economic Regeneration Strategy focuses on supporting businesses to thrive, and to ensure that the Council continues to support the visitor economy. Both of these objectives will be met through this project. Implementation Timetable including Future Decisions and Scrutiny The Trust’s regeneration proposals are reliant upon securing capital grant from the Heritage Lottery Fund (HLF). The Trust is aiming to submit a Round One application to the Heritage Lottery Fund in December 2017, and will hear if they have been successful in spring 2018. For the Round One application the Trust is seeking in principle agreement from the Council for disposal of the land if the Round One application is successful. Should the project proceed, the likely start on site, subject to planning and any other consents, is 2020. Report Implications The following implications have been identified for this report. Financial Implications The District Valuer has estimated that the land has a value of £2,200. Although the land is not included in the grounds maintenance contract, it is being maintained along with the wider area of open space, therefore there is an ongoing annual revenue cost incurred at present, although this is marginal. Risk Management The risks associated with the decision Cabinet is asked to make and proposed actions to mitigate those risks are set out in the table below.

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Risk Identified Likelihood Impact Risk Management Actions Planned

That the project does not proceed due to a lack of Capital and this leads to the loss of the land with no benefits realised and the Council exposed to reputational risk.

Possible

Moderate

Ensure that any disposal completion does not take place until the funding is confirmed and the project is guaranteed to deliver

That there is an adverse impact on residents adjacent to the site.

Unlikely

Moderate

Undertake ongoing resident engagement, and an Equality Impact assessment to ensure residents are not disadvantaged.

Equality and Diversity There are no potential barriers or negative impacts to equality and diversity identified at this point in time. Should the project proceed, a priority neighbourhood will be regenerated. To ensure that benefits for the local community are maximised, the Council will support the Trust to engage with local residents. An Equality Impact Assessment is attached at Appendix D. Sustainability Should the project proceed, tourism to the area will be boosted, local industry and unique skills will be protected, the area of land will be tidied up, and the local community will benefit through the regeneration of the area. Key Decision: No Background Papers: None Officer(s) to contact: Eileen Mallon Strategic Director of Housing, Planning and

Regeneration and Regulatory Services Tel 01509 634662 eileen.mallon@charnwood.gov.uk

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Part B Background 1. The Loughborough Bellfoundry Trust (the owners of the bellfoundry) has

expressed an interest in the acquisition of a parcel of Council owned land adjoining the northern boundary of the bellfoundry. In summary, the land sought is a strip of a few metres in width of a much wider strip of green space. Appendix A illustrates the area of land sought.

2. The Trust has advised that the acquisition is critical to the proposed

regeneration of the bellfoundry. The land sought would allow for a new fit-for-purpose entrance, employee office space and a new national bell archive. It would also allow for the creation of an enclosed courtyard around the rare Carillon tower which the Trust hopes to promote as a visitor attraction.

3. The diagram at Appendix C includes indicative proposals for replacement

landscaping and some element of public art at the remaining green space which would stay in the ownership of the Council.

4. The Trust’s regeneration proposals are reliant upon securing capital grant

from the Heritage Lottery Fund (HLF). The Trust is aiming to submit a Round One application to the HLF in December 2017, and would hear if it has been successful in Spring 2018.

5. For the Round One application the Trust is seeking in principle agreement

from the Council for disposal of the land if the Round One application is successful.

6. Should the project proceed, the likely start on site subject to planning and any

other consents is 2020. History and Significance of Taylor’s Bell Foundry 7. The John Taylor & Co bellfoundry is now the only major bellfoundry in the

UK and the largest bellfoundry in the world. 8. Whilst John Taylor & Co as bellfounders has a much older history, the

Loughborough site as we know it today was constructed in 1859 as a state-of-the-art bellfoundry. Parts of the site have changed and evolved over time but the basic layout and processes established by the Victorians remain in place today. In this context, the heritage of the site as the only purpose built Victorian bellfoundry in the world is internationally unique.

9. Over and above the building itself, there are numerous facts about Taylor’s

that increase its significance:

The tuning shop at Taylor’s (still in use today) is where harmonic bell tuning was discovered in 1896, a technique that is now the industry standard around the world

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The carillon tower on the site was the first harmonically tuned carillon in the world

Taylor’s houses an internationally significant archive of over 15,000 bell projects dating back to 1744 relating to over 50,000 bells across the UK and 100 countries overseas

Hundreds of unique casts and patterns used to cast bells that have been rung to mark occasions of individual and global significance such as Great Paul (St Pauls Cathedral), Great George (Liverpool Cathedral), Great Peter (York Minster), Great Abel (Manchester Town Hall)

Taylor’s is one of the last places in the UK to preserve unique skills in bell casting, fettling and harmonica tuning.

A conservative estimate suggests that around 1/3 of all bells in existence in the UK have been cast or rehung by Taylor’s. This implies that over 20 million people each day in the UK alone experience the sound of a Taylor’s bell and millions of people over generations have experienced a ring of Taylor’s bells to mark deeply personal moments such as weddings, funerals and moments of national importance.

Development Proposals

10. John Taylor and its successor companies have been casting bells in

Loughborough from their present site since the mid Victorian period. ‘Taylor’s of Loughborough’ is ubiquitous around the world as being one of the finest manufacturers of bells and carillons.

11. The Victorian foundry building is Grade II* Listed. However, owing to its very

poor condition it has been on the Historic England Heritage At Risk Register since 2010. Despite recent grant aided work, the building suffers from chronic water ingress due to the poor condition of roofs and rainwater goods; the continuation of this problem is now affecting walls and structures which represents a major risk to the long-term operation at this site.

12. In 2016 a Trust was established to take on the freehold of the site and its

contents and provide a suitable vehicle for pursuing the comprehensive restoration and regeneration of the buildings. The Pilgrim Trust, Architectural Heritage Fund and Heritage Lottery Fund have provided grant assistance to cover the cost of feasibility work which identified a preferred option and vision for Taylor’s as follows:

‘Our vision is for the John Taylor Bellfoundry to become the global centre in the art of bell making and learning. The sound of Taylor bells can be heard all over the planet; our vision is to secure this legacy and make sure future generations on every continent can be brought together by A Ring of Taylor Bells.’

13. There are a number of objectives identified for the project as follows:

(i) Conserving heritage and skills: The project will secure the conservation and enhancement of the Grade II* Listed John Taylor Bellfoundry, its unique collection and skills-base.

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(ii) Education and public engagement: The project will advance education and public engagement in the history and art of bell making and bell ringing.

(iii) Research and manufacturing excellence: The project will create the preeminent centre for bell research, development and manufacturing.

(iv) Exciting and engaging visitors: The project will provide an exciting and engaging experience for a diverse range of visitors.

(v) Preserving UK bell manufacturing: The project will secure a financially resilient future for bell making in Loughborough and the UK.

14. Specialist conservation architects and quantity surveyors have been working

closely with the Trust and foundry staff to design the preferred restoration project. Critical to the success of the project is the ability of the foundry to expand slightly its physical footprint; this will allow for:

The creation of a new high-quality modern entrance to the foundry for clients and visitors

The enclosure of a small courtyard area around the carillon tower that can be used for recitals and community events

The creation of a new archive building that will enable the site to house the National Bell Archive

The relocation of the rope walk to allow for improved public access 15. The proposals for the rest of the site include a range of alterations including

the introduction of a new high-level walkway allowing visitors to move around the site unimpeded, a new National Ringing Centre, a new National Bell Museum and new R&D and manufacturing spaces for the operation.

16. A Round One application is due to be submitted to the Heritage Lottery Fund

at the start of December 2017. If this application is successful a further 18 months of feasibility work, project development and consultation will take place before a Round Two application is submitted to the HLF for final consideration. If this second application is successful the project will proceed to delivery.

Existing use and characteristics of the Council land 17. The land is designated as Housing Revenue Account land and is amenity

open space. It largely consists of grass, trees and shrubbery against the northern boundary of the bellfoundry. See Appendix B, pages 10-11 for a series of site photos. Whilst it does not currently form part of the management of open spaces contract, the grass if nothing else does appear to be maintained.

18. There are several large trees on what will remain of the Council’s green space

should the parcel of land be disposed of. These cast significant shade and would likely impact on the overall vision for the area, obscuring the public art and landscaping should they remain.

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19. The site is adjacent to blocks of low rise flats at Chapman Street and Peel Drive. The flats look out on to the grassed space and the bellfoundry. The trees provide a leafy aspect to tenant’s views. Equally the trees create significant shade and likely reduce the amount of light in tenants’ flats.

Community Engagement

20. A representative from Ingham Pinnock Associates has met with the Council’s

Neighbourhoods and Partnerships Manager to discuss engagement with the local community. Given that all of the funding for the project has not yet been secured, a gradual approach to build community awareness of the project will be undertaken.

21. Ingham Pinnock Associates have undertaken to produce some display boards

that can be located in the nearby Marios Tinenti Centre. 22. The Council’s Customer Engagement Team has undertaken an initial door

knock at 28 properties immediately adjoining the site. Of the 9 residents spoken with (a 32% response rate) all were happy with the proposed disposal of land.

Grounds Maintenance Implications 23. Although this small area was erroneously omitted from the contract areas, the

grounds have been maintained by idVerde as part of the Council’s Management of Open Spaces contract. The area is being added to the contract areas to ensure that the maintenance continues. If the disposal is approved the contract will be further amended to reflect this.

24. Officers will work with the bellfoundry and its contractors to discuss any

requirements for vehicular access and site storage that may arise as part of the development. Any agreement on this issue would be subject to the remaining part of the open space being restored to its current condition.

District Valuer’s Valuation and Comments 25. The District Valuer has appraised the site, and the full report is attached at

Appendix B. In summary, the District Valuer states that:

Description The land consists of green space found between Taylors Bell Foundry local authority low rise flats. It is predominantly grassed, and forms part of a larger parcel of green space owned by the Council and designated as amenity open space. Presently, there are a five tall, mature trees growing on land to be retained by the Council. Alongside the north west boundary of the bell Foundry, is a concrete panel fence with shrubs and bushes growing in front. Opinion of Value

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I am of the opinion that the Market Value of the freehold interest in 356 square meters of green space is £1,100 (One Thousand and One Hundred Pounds) as at 13 September 2017. The Market Value is subject to a special assumption of a Special Purchaser. A special purchaser is reasonably anticipated, and an expression of interest in the land has been received from The Loughborough Bell foundry Trust (the owners of the Bell Foundry). As such, a special purchaser would offer above market value to obtain the land and realise special value created through the acquisition. Without the land, the Bell Foundry cannot proceed with their plans of a proposed regeneration scheme comprising of a new entrance, courtyard employee office space and a new national bell archive. I am of the opinion that the Market Value of the freehold interest subject to a special assumption of a Special Purchaser space is £2,200 (Two Thousand and Two Hundred Pounds) as at 13 September 2017.

Financial Considerations/Implications 26. The District Valuer has estimated that the land has a value of £2,200.

Although the land is not included in the grounds maintenance contract, it is being maintained along with the wider area of open space, therefore there is an ongoing annual revenue cost incurred at present, although this is marginal.

27. Given that the HRA land will be disposed of at less than market value, and

that the amenity will be shared by the Community as a whole, a contribution will be made from the general fund to the HRA for the value of the land.

28. There will be a legal fee associated with the transfer of the land and the

disposal will therefore be subject to the Loughborough Bellfoundry Trust paying the costs in this respect.

Appendices Appendix A Site Plan Appendix B Valuation Report for Land North West of the Bell Foundry Appendix C Plan indicating elements of public art Appendix D Equality Impact Assessment

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SALISBURY STREET

21

83

7187

77

79

28

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30a

40.5m

8185

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32

15

6163

45 39133

115

137

65

91

129

97

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119

51

105

143

107

109

69

131

113

67

95

111

139

93

101

141

117

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135

103

75

15

121

4731

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125

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49 43

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127

41

PEEL DRIVE

COBD

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TREE

T

66

Museum

74

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Foundry

Posts

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Works

70

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122

100

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25

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118

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29

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64

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106

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23

138

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27

116

136

132

114

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126

124

144

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15

17

31

5

7

114

1209

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Scale: 1:?Date: 01-11-2017 Time: 10:33:34This material has been reproduced from Ordnance Survey digital map data with the permission of the Controller of Her Majesty's Stationary Office. Unauthorised reproduction infringesCrown copyright and may lead to prosecution or civil proceedings.© Crown copyright.

Licence No. 100023558

Any Aerial Photography shown is copyright of UK Perspectives

Charnwood Borough CouncilCoouncil OfficesSouthfield RoadLoughboroughLeicestershireLE11 2TX

www.charnwood.gov.uk 9

Report for: Sheetal Shah Charnwood Borough Council Prepared by: Michelle Webster MRICS Senior Surveyor RICS Registered Valuer DVS Tel: 03000 505560 michelle.webster@voa.gsi.gov.uk

Case Number: 1649150 Date: 28 September 2017

Valuation Report for Land North West of The Bell Foundry, Freehold Street, Loughborough LE11 1AR

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Contents 1. Introduction ........................................................................................................ 1 2. Valuation Parameters ........................................................................................ 1 3. Property Information .......................................................................................... 4 4. Valuation ............................................................................................................ 5 5. General Information ........................................................................................... 8 6. Recommendations ............................................................................................. 9 7. Appendices ...................................................................................................... 10

7.1 Photographs ............................................................................................................10

7.2 Plans .......................................................................................................................12

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1. Introduction

I refer to your instructions dated 07 September 2017 and my Terms of Engagement dated 11 September 2017.

I have inspected and valued the land and I am pleased to report to you as follows.

2. Valuation Parameters

2.1 Identification of Client Charnwood Borough Council.

2.2 Purpose of Valuation

It is understood that you require an opinion of Market Value of land on the north west boundary of The Loughborough Bell Foundry for disposal purposes.

2.3 Subject of the Valuation 356 square metres of amenity land found at the north west boundary of The Bell Foundry, Freehold Street, Loughborough, Leicestershire, LE11 1AR.

2.4 Date of Valuation The date of valuation is 13 September 2017. Please note that values change over time and that a valuation given on a particular date may not be valid on an earlier or later date.

2.5 Confirmation of Standards The valuation has been prepared in accordance with the professional standards of the Royal Institution of Chartered Surveyors: RICS Valuation – Global Standards 2017 and the RICS Valuation - Professional Standards UK (January 2014, revised April 2015), commonly known together as the Red Book. Compliance with the RICS professional standards and valuation practice statements gives assurance also of compliance with the International Valuations Standards (IVS). Measurements stated are in accordance with the ‘RICS Property Measurement 1st Edition’ which is effective from 1st January 2016.

2.6 Agreed Departures from the RICS Professional Standards

There are no departures beyond those restrictions on the extent of investigations and survey, and the assumptions, stated below.

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2.7 Basis of Value

The basis of value adopted is Market Value which is defined at VPS 4, para 4 as: ‘The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.’

2.8 Special Assumptions

The following special assumption has been applied:

A special purchaser is reasonably anticipated. An expression of interest in the land has been received from The Loughborough Bellfoundry Trust (the owners of the Bell Foundry).

2.9 Nature and Source of Information Relied Upon

I have assumed that all information provided by, or on behalf of you, in connection with this instruction is correct without further verification – for example, details of tenure, tenancies, planning consents, etc. My advice is dependent upon the accuracy of this information and should it prove to be incorrect or inadequate, the accuracy of my valuation may be affected.

E-mail instruction dated 07 September 2017 A briefing note and proposed phase 1 plan provided by yourself on email dated

04 September 2017 I have also has regard of comparable sales transactions found on Co-Star and EIG Auction property websites.

2.10 Date of Inspection 13 September 2017.

2.11 Extent of Investigations, Survey Restrictions and Assumptions An assumption in this context is a limitation on the extent of the investigations or enquiries undertaken by the valuer. The following agreed assumptions have been applied in respect of your instruction, reflecting restrictions to the extent of our investigations.

Such inspection of the property and investigations as the Valuer considered professionally adequate and possible in the particular circumstance was

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undertaken. This comprised undertaking inspection of the property of the land.

No detailed site survey, building survey or inspection of covered, unexposed or inaccessible parts of the land was undertaken. The Valuer has had regard to the apparent state of repair and condition, and assumed that inspection of those parts not inspected would neither reveal defects nor cause material alteration to the valuation, unless aware of indication to the contrary. No responsibility can therefore be accepted for identification or notification of land or services’ defects that would only be apparent following such a detailed survey, testing or inspection.

It has been assumed that good title can be shown and that the land is not

subject to any unusual or onerous restrictions, encumbrances or outgoings.

It has been assumed that the land and its value are unaffected by any statutory notice or proposal or by any matters that would be revealed by a local search and replies to the usual enquiries, and that neither the construction of the land nor its condition, use or intended use was, is or will be unlawful or in breach of any covenant.

It has been assumed that no deleterious or hazardous materials or techniques were used or have since been incorporated. However where an inspection was made and obvious signs of such materials or techniques were observed, this will be drawn to your attention and captured in this report.

No access audit has been undertaken to ascertain compliance with the Equality Act 2010 and it has been assumed that the premises are compliant unless stated otherwise in this report.

No environmental assessment of the land and neighbouring properties has

been provided to or by the VOA, nor is the VOA instructed to arrange consultants to investigate any matters with regard to flooding, contamination or the presence of radon gas or other hazardous substances. No search of contaminated land registers has been made. However, where an inspection was made and obvious signs of contamination or other adverse environmental impact were visible this will have been advised to you, further instructions requested and the observations captured in the report. Where such signs were not evident during any inspection made, it has been assumed that the land and neighbouring properties are not contaminated and are free of radon gas, hazardous substances and other adverse environmental impacts. Where a risk of flooding is identified during any inspection made, or from knowledge of the locality, this will be reported to you. The absence of any such indication should not be taken as implying a guarantee that flooding can never occur.

No allowances have been made for any rights obligations or liabilities arising from the Defective Premises Act 1972.

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3. Property Information

3.1 Situation The subject land is found at the end of Freehold Street and Peel Drive, around 0.5 kilometres east of Loughborough town centre. It is located adjacent a local authority housing estate comprising predominantly of low rise blocks of flats, and Taylors Bell Foundry (workshop and offices) and is accessed off the A60 Queen's Road.

3.2 Description The land consists of green space found between Taylors Bell Foundry local authority low rise flats. It is predominantly grassed, and forms part of a larger parcel of green space owned by the Council and designated as amenity open space. Presently, there are a five tall, mature trees growing on land to be retained by the Council. Alongside the north west boundary of the bell Foundry, is a concrete panel fence with shrubs and bushes growing in front.

3.3 Tenure

Freehold with vacant possession

3.4 Easements and Restrictions

It is assumed that good title can be shown and that the property is not subject to any unusual or onerous restriction, encumbrances or outgoings.

3.5 Site Area

356 square metres

3.6 Defects and Repair None observed

3.7 Services It is assumed the land is not connected to the mains services.

3.8 Access and Highways It is assumed the land has access to and from a main highway which is maintainable at public expense.

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3.9 Planning I have made no enquiries of the Planning Authority and no information has been received on the land’s planning status and potential.

3.10 Equality Act 2010 Whilst I have had regard to the provisions of the Equality Act 2010 in making this report, I have not undertaken an access audit nor been provided with such a report. It is recommended that you commission an access audit to be undertaken by an appropriate specialist in order to determine the likely extent and cost of any alterations that might be required to be made to the premises or to your working practices in relation to the premises in order to comply with the Act.

3.11 Mineral Stability The property is not in an underground mining area and a Mining Subsidence Report has not been obtained. You hereby accept that the Board of HMRC for and on behalf of the Agency and its employees cannot, in these circumstances, provide any warranty, representation or assurance whatsoever to you or any third party as to the mineral stability or otherwise of the subject property valued. You hereby agree to waive any claim which you might otherwise have had against the Board, the Agency or any of their employees for negligence or breach of contract arising from any loss or damage suffered as a result of your specific instructions to take no account of any matters that might reasonably be expected to have been disclosed by an Underground Mining Subsidence Report.

3.12 Environmental Factors Observed or Identified As previously stated, the land is in close proximity to a number of mature trees, which may affect the stability of the ground should they be felled.

4. Valuation

4.1 Valuation Methodology/Approach and Reasoning In order to establish the level of market value, I have had regard to comparable open market sales of similar land and made adjustments for location, size and quality. There is no direct evidence of small parcels of amenity land in the immediate locality, and as such, I have extended my search wider into Leicestershire analysing transactions of small, level parcels of grass land. These tend to be bare of any trees and found near housing estates or highways.

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4.2 Comparable Evidence My comparable evidence consists of land transactions made between 2013 - 2017 which are of 1 acre or less in size. Land off Balmoral Road, Mountsorrel, Loughborough, LE12 7EN 0.41 acres of level grass land, which lies adjacent to Balmoral Road. This transacted in February 2013 for £2,000. It is located 6 miles away from the subject land. I have analysed this transaction as £5,000 acre and further uplifted this to reflect growth between transaction and valuation date to £6,000 an acre. Land adjacent to Mill Lane, Barrow Upon Soar, Loughborough, LE12 8LH 0.29 acres of level grass land, which lies adjacent to Mill Lane, in a popular residential village. This transacted in February 2017 for £10,500. It is located 4 miles away from the subject land. I have analysed this transaction as £36,000 acre with no further uplift for growth. I am of the opinion that this land has hope value for use as paddock or potential for residential development. Former Highway Land, Glenfield Lane, Kirby Muxloe, Leicester, LE9 2AH 0.03 acres of level grass land, found adjacent to Vicarage Close. This transacted in June 2017 for £500. It is located 15 miles away from the subject land. I have analysed this transaction as £16,500 acre with no further uplift for growth. I am of the opinion that this land has hope value for use as garden land Following my comparable analysis, I am of the opinion that amenity land with hope value transacts between £10,000 - £40,000 an acre depending on its potential. As the subject land is potentially being acquired for commercial development (extension of the Foundry), I feel that £12,000 an acre is a reasonable starting point to the valuation.

4.3 Opinion of Value I am of the opinion that the Market Value of the freehold interest in 356 square meters of green space is £1,100 (One Thousand and One Hundred Pounds) as at 13 September 2017. The Market Value is subject to a special assumption of a Special Purchaser. A special purchaser is reasonably anticipated, and an expression of interest in the land has been received from The Loughborough Bell foundry Trust (the owners of the Bell Foundry). As such, a special purchaser would offer above market value to obtain the land and realise special value created through the acquisition. Without the land, the Bell Foundry cannot proceed with their plans of a proposed regeneration scheme comprising of a new entrance, courtyard employee office space and a new national bell archive.

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I am of the opinion that the Market Value of the freehold interest subject to a special assumption of a Special Purchaser space is £2,200 (Two Thousand and Two Hundred Pounds) as at 13 September 2017.

4.4 Currency All prices or values are stated in pounds sterling.

4.5 VAT I understand that VAT does not apply to this transaction and my opinion of value reflects this. In the event that my understanding is found to be inaccurate, my valuation should be referred back for reconsideration.

4.6 Costs of Sale or Acquisition and Taxation I have assumed that each party to any proposed transaction would bear their own proper legal costs and surveyor’s fees. No allowance has been made for liability for taxation, whether actual or notional, that may arise on disposal.

4.7 Market Commentary Following the referendum held on 23 June 2016 concerning the UK’s membership of the EU, the impact to date on the many factors that historically have acted as drivers of the property investment and letting markets has generally been muted in most sectors and localities. The outlook nevertheless remains cautious for market activity over the coming months as work proceeds on negotiating detailed arrangements for EU exit and sudden fluctuations in value remaining possible. We would therefore recommend that the valuation is kept under regular review. Should you intend to effect a disposal, we recommend that specific marketing advice be obtained at that time. Parcels of green space have come to the market over recent years in the Loughborough area and are readily sought after, especially where they adjoin a property or are located on a residential housing estate. I am of the opinion that this land is not suitable for any residential development, but have not sought guidance on this matter from the Planning Authority. Given the present amenities, access and parking facilities at Freehold Street and Peel Drive, consideration could be given to creating recreational facilities on the overall land, or developing this into further resident car parking (which appears to be in demand).

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5. General Information

5.1 Status of Valuer

It is confirmed that the valuation has been carried out by Michelle Webster, a RICS Registered Valuer, acting in the capacity of an external valuer, who has the appropriate knowledge and skills and understanding necessary to undertake the valuation competently, and is in a position to provide an objective and unbiased valuation.

5.2 Conflict of Interest Checks have been undertaken in accordance with the requirements of the RICS standards and have revealed no conflict of interest. DVS has had no previous material involvement with the property.

5.3 Restrictions on Disclosure and Publication The client will neither make available to any third party or reproduce the whole or any part of the report, nor make reference to it, in any publication without our prior written approval of the form and context in which such disclosure may be made. You may wish to consider whether this report contains Exempt Information within the terms of paragraph 9 of Schedule 12A to the Local Government Act 1972 (section 1 and Part 1 of Schedule 1 to the Local Government (Access to Information Act 1985) as amended by the Local Government (access to Information) (Variation) Order 2006.

5.4 Limits or Exclusions of Liability The report should only be used for the stated purpose and for the sole use of your organisation and your professional advisers. No responsibility whatsoever is accepted to any Third Party who may seek to rely on the content of the report unless previously agreed.

5.5 Validity This report remains valid for 3 (three) months from its date unless market circumstances change or further or better information comes to light, which would cause me to revise my opinion.

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6. Recommendations

6.1 Summary of key issues

Trees : Several trees occupy the green space adjacent to blocks of low rise flats at Chapman Street. Due to the height and leaf cover of the trees, the area is found to be dark with a lack of natural light at the ground level. For the surrounding tenants of the adjacent flats, the green space provides a leafy aspect and a degree of privacy and noise reduction from the adjacent Bell Foundry. Equally, as observed during my inspection, the trees reduce the amount of natural light being received into this area, especially at the ground floor level. Removal of Trees: My understanding of the proposed regeneration, is that a number of the trees may need to be felled. I would recommend further investigations and an assessment of the ground conditions to be performed to see if the trees have any influence on the nearby buildings. Remaining Green Space: The Council may wish to consider whether to dispose of all the green space and to make provisions to unsure that any undeveloped land is used to enhance the local area or used to provide recreational facilities.

I trust that the above report is satisfactory for your purposes. However, should you require clarification of any point do not hesitate to contact me further.

Michelle Webster Senior Surveyor RICS Registered Valuer DVS

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LDG20 (01.07.17) Private and Confidential

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7. Appendices

7.1 Photographs

Land from Freehold Street

Land from Freehold Street

View of the middle of the land

Land from Peel Drive

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LDG20 (01.07.17) Private and Confidential

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Existing boundary fence

Land from Peel Drive

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LDG20 (01.07.17) Private and Confidential

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7.2 Plans

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Appendix C - Plan indicating elements of public art

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Charnwood Borough Council

Equality Impact Assessment ‘Knowing the needs of your customers and employees’

Background An Equality Impact Assessment is an improvement tool. It will assist you in ensuring that you have thought about the needs and impacts of your service/policy/function in relation to the protected characteristics. It enables a systematic approach to identifying and recording gaps and actions.

Legislation- Equality Duty As a local authority that provides services to the public, Charnwood Borough Council has a legal responsibility to ensure that we can demonstrate having paid due regard to the need to:

Eliminate discrimination, harassment and victimisation

Advance Equality of Opportunity Foster good relations

For the following protected characteristics: 1. Age 2. Disability 3. Gender reassignment 4. Marriage and civil partnership 5. Pregnancy and maternity 6. Race 7. Religion and belief 8. Sex (Gender) 9. Sexual orientation

What is prohibited? 1. Direct Discrimination 2. Indirect Discrimination 3. Harassment 4. Victimisation 5. Discrimination by association 6. Discrimination by perception 7. Pregnancy and maternity discrimination 8. Discrimination arising from disability 9. Failing to make reasonable adjustments

Note: Complete the action plan as you go through the questions

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Step 1 – Introductory information

Title of the policy Disposal of Land to Taylors Bell Foundry, Loughborough

Name of lead officer and others undertaking this assessment

Head of Landlord Services

Date EIA started August 2017

Date EIA completed October 2017

Step 2 – Overview of policy/function being assessed:

Outline: What is the purpose of this policy? (Specify aims and objectives)

To consider a request from Taylors Bell Foundry to acquire a small piece of Council owned land, to assist in the development of a visitor centre.

What specific group/s is the policy designed to affect/impact and what is the intended change or outcome for them?

The following groups will be affected should the project proceed:

a) Tenants and leaseholders of the Council that live close to the proposed project.

b) The wider community of the Bell Foundry, which is a priority neighbourhood due to its position in the indices of multiple deprivation.

These groups will lose a small strip of amenity open space near to their properties / in the locality. Some trees will need to be felled or reduced in size to deliver the project. The area will be tidied up and regenerated. An objective of the project is to advance education and public engagement in the history and art of bell making and bell ringing. More visitors and tourists will visit the area. This will increase footfall in the area and will likely have a positive effect on the local economy. The project will protect and enhance a local landmark. The bellfoundry is of significant historical and cultural importance. An objective of the project is to create the preeminent centre for bell research, development and manufacturing. The project includes an enclosure of a small courtyard area around the carillon tower that can be used for recitals and community events.

c) Visitors and tourists to the bellfoundry

An objective of the project is to provide an exciting and engaging experience for a diverse range of visitors.

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The tourism offer of the local area will be enhanced by the project. The bellfoundry will become a visitor attraction.

Which groups have been consulted as part of the creation or review of the policy?

The Council’s Customer Engagement Team has undertaken an initial door knock at 28 Council owned properties immediately adjoining the site.

Step 3 – What we already know and where there are gaps

List any existing information/data do you have/monitor about different diverse groups in relation to this policy? Such as in relation to age, disability, gender reassignment, marriage and civil partnership, pregnancy & maternity, race, religion or belief, sex, sexual orientation etc.

Data/information such as:

Consultation Previous Equality Impact Assessments Demographic information Anecdotal and other evidence

Of the 9 residents spoken with at the door knocking exercise (a 32% response rate) all were happy with the proposed disposal of land. The bellfoundry is an area ranked in the top 10% of deprived neighbourhoods nationally1. Detailed tenant profiling data is captured and recorded on QL, the Council’s electronic housing management system. What does this information / data tell you about diverse group? If you do not hold or have access to any data/information on diverse groups, what do you need to begin collating / monitoring? (Please list)

Given that there will be an impact on the community as a whole, a representative from Ingham Piggot Associates has met with the Council’s Neighbourhoods and Partnerships Manager to discuss engagement with the local community. Given that all of the funding for the project has not yet been secured, a gradual approach to build community awareness of the project will be undertaken.

Step 4 – Do we need to seek the views of others? If so, who?

In light of the answers you have given in Step 2, do you need to consult with specific groups to identify needs / issues? If not please explain why.

Ingham Piggot Associates have undertaken to produce some display boards that can be located in the nearby Marios Tinenti Centre - to build broader community awareness of the

1 Indices of multiple deprivation HM Gov (2015) Available at:

https://www.gov.uk/government/statistics/english-indices-of-deprivation-2015

Accessed 31/10/2017

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project.

Step 5 – Assessing the impact

In light of any data/consultation/information and your own knowledge and awareness, please identify whether the policy has a positive or negative impact on the individuals or community groups (including what barriers these individuals or groups may face) who identify with any ‘protected characteristics’ and provide an explanation for your decision (please refer to the general duties on the front page).

Comments

Age

There is a neutral impact identified for individuals and groups with this characteristic.

Disability (Physical, visual, hearing, learning

disabilities, mental health)

There is a neutral impact identified for individuals and groups with this characteristic.

Gender Reassignment

(Transgender) There is a neutral impact identified for individuals and groups with this characteristic.

Race There is a neutral impact identified for individuals and groups with this characteristic.

Religion or Belief (Includes no belief)

There is a neutral impact identified for individuals and groups with this characteristic.

Sex (Gender)

There is a neutral impact identified for individuals and groups with this characteristic.

Sexual Orientation There is a neutral impact identified for individuals and groups with this characteristic.

Other protected groups (Pregnancy &

maternity, marriage & civil partnership) There is a neutral impact identified for individuals and groups with this characteristic.

Other socially excluded groups (carers, low literacy, priority

neighbourhoods, health inequalities, rural isolation, asylum seeker and refugee

communities etc.)

Should the project proceed a priority neighbourhood area will be regenerated. Whilst the project is in its early stages, the objectives of the project indicate that there will be opportunities around engagement with the local community and

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education. It is likely that economic benefits will be brought to the area through increased footfall and tourism. The objectives of the project include (but are not limited to), the following: Objective: Education and public engagement: The project will advance education and public engagement in the history and art of bell making and bell ringing Objective: Exciting and engaging visitors: The project will provide an exciting and engaging experience for a diverse range of visitors. Objective: Research and manufacturing excellence: The project will create the preeminent centre for bell research, development and manufacturing

Where there are potential barriers, negative impacts identified and/ or barriers or impacts are unknown, please outline how you propose to minimise all negative impact or discrimination. Please note:

a) If you have identified adverse impact or discrimination that is illegal, you are required to take action to remedy this immediately.

b) Additionally, if you have identified adverse impact that is justifiable or legitimate, you will need to consider what actions can be taken to mitigate its effect on those groups of people.

Bearing in mind the early stage in the project, at this point in time, there are no identified potential barriers or negative impacts identified. The project will be subject to the necessary planning permissions and building regulations should fundng be secured.

Summarise your findings and give an overview as to whether the policy will meet Charnwood Borough Council’s responsibilities in relation to equality and diversity (please refer to the general duties on the front page).

As stated, there are no identified potential barriers or negative impacts identified at this point in time. Should the project proceed there will be a neutral or positive impact on individuals and groups with protected characteristics. No negative impacts have been identified. A priority neighbourhood area will be regenerated. To ensure that benefits for the local community are maximised, the Council should support the trust to engage with the local community - in order to maximise the opportunities presented by the project.

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The disposal of the land will meet the Council’s responsibilities in relation to equality and diversity. Specifically, this will be achieved as follows: Advance equality of opportunity The project will create a tourism destination of significant historical and cultural importance. The regeneration of the area will likely have a positive effect on community aspirations. . Foster good relations

The project includes the enclosure of a small courtyard area around the carillon tower that can be used for recitals and community events. This may provide opportunities for different individuals and groups to interact.

Step 6- Monitoring, evaluation and review

Are there processes in place to review the findings of this Assessment and make appropriate changes? In particular, how will you monitor potential barriers and any positive/ negative impact?

The Council’s Neighbourhoods and Customer Engagement Teams will continue to work with the Trust around building community awareness of the project. The teams will seek to maximise opportunities for the local community.

How will the recommendations of this assessment be built into wider planning and review processes? e.g. policy reviews, annual plans and use of performance management systems.

Supporting wider community engagement through the project will be built in to the work plans of the Neighbourhoods and Customer Engagement Teams.

Step 7- Action Plan

Please include any identified concerns/actions/issues in this action plan: The issues identified should inform your Service Plan and, if appropriate, your Consultation Plan

Reference Number

Action

Responsible Officer

Target Date

1

Support installation of information boards in the Marios Tinenti Centre

Neighbourhoods and Partnerships Manager

April 2018

2 Keep tenants and leaseholders up to date with significant developments in the project

Principal Officer - Customer Engagement Older Persons Services

Ongoing

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3

Work with theTrust and local communities to identify opportunities though the project to positively impact on individuals and communities and regenerate the bellfoundry.

Neighbourhoods and Partnerships Manager Principal Officer - Customer Engagement Older Persons Services

Ongoing

Step 8- Who needs to know about the outcomes of this assessment and how will they be informed?

Who needs to know (Please tick)

How they will be informed (we have a legal duty to publish EIA’s)

Employees

Y Customer Engagement and Neighbourhood Development Officers to receive a copy of the EIA.

Service users

Y The EIA will be published on the Council’s website.

Partners and stakeholders

Y Bellfoundry Trust to receive a copy of the EIA.

Others

NA

To ensure ease of access, what other communication needs/concerns are

there?

NA

Step 9- Conclusion (to be completed and signed by the Service Head)

Please delete as appropriate

I agree / disagree with this assessment / action plan

If disagree, state action/s required, reasons and details of who is to carry them out with timescales:

Signed (Strategic Director): Peter Oliver, Head of Landlord Services

Date: 02/11/2017

Please send completed & signed assessment to Suzanne Kinder for publishing.

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