Heritage Investment Strategy 2015-20
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HERITAGE INVESTMENT STRATEGY 2015-20 1 FOREWORD Welcome to the Pennine Lancashire Heritage Investment Strategy and our heritage compact agreed by Pennine Lancashire Leaders and Chief Executives (PLACE). Pennine Lancashire has been underinvested over the last century by both the public and private sector following our fortunes and decline of the industrial revolution. This legacy has left behind a number of liabilities and challenges within the heritage built environment. However, we now recognise that these assets present many opportunities, which could help bolster our economy, society and environment. This strategy demonstrates our commitment to heritage and its potential to contribute to maximise local growth. We want to use our unique historic assets to help regenerate Pennine Lancashire for now and future generations. Our 24 heritage priority projects have the potential to create over 1,200 direct jobs and add a further £39m GVA to the Lancashire economy. The wider historic environment presents much more economic benefits. Communities will also benefit from strengthened local identity and pride, greater local participation and greater inclusion and cohesion resulting in better mental and physical health, higher attainment, less anti-social behaviour and a positive outlook for the future. The investment strategy will focus on greater partnerships and levering additional funds from both the public agencies and more importantly the private sector. We will work with investors and partners to think about unconventional methods to unlock funds to regenerate heritage assets, together addressing common barriers which deliver greater longer term returns. Moving forward, we will continue to champion local heritage and remain responsive to new opportunities within the heritage sector to contribute to our local economy. Signed Heritage Investment Champions for Pennine Lancashire Wycoller 2 EXECUTIVE SUMMARY There are key challenges impacting upon the historic environment both in Pennine Lancashire and nationally. This includes long term underinvestment, government austerity, the age of digital developments, drive for efficiency, changing patterns of consumerism, sectoral shift in employment, population demands and changes, legislations, designs and skills deficit. These longer term trends and shifts in economy, society and environment is affecting how we look after our historic environment. In the past, local authorities used two approaches when assisting heritage buildings: The ‘Dynamic Approach’ by adapting and developing policies and measures and the ‘Support Approach’ by making the investments economically justified for the private sector by helping out with subsidies and financial incentives. Because of changes within the macro-economic climate, the latter approach has become more difficult to maintain. Innovation practices as well as private sector investment and expertise are required to continue successful regeneration. Future schemes will increasingly need to St. Johns Church, Blackburn mix public funds with private sector finance to ensure schemes can attract investment funds to regenerate successful projects. Further to this, the move towards localism with continued cuts to public sector funding will require setting clear priorities on managing the historic environment. There will be a need to work even closer with local groups and civic societies and also embrace the private sector for the investment opportunities it offers. The long term investment view should be sought when investing in heritage. Often, historic buildings are located in areas where economic conditions are not favourable resulting in frontloaded acquisition and construction costs. As these type of older buildings are not generally seen as mainstream property investment by financial institutions, innovative joint ventures should be sought and developed to ensure these buildings have a sustainable future. Once delivered, these regenerated historic buildings far outstrip market appeal better than new build construction. Raising awareness of heritage value and its associated premium features amongst some of the key challenges affecting the historic sector today. Our local heritage has been built up by local people, where credit is now due. There are many assets registered by Historic England as at risk but a greater number which are locally recognised. By promoting, educating and increasing participation amongst local residents on the value of heritage and its benefits to the economy, society and the local environment, those residents will become active custodians and champions of local heritage assets, where once they or their families may have lived, worked or used over time. Pendle Heritage Centre 3 There is a growing skills gap in both the public and private sector within the historic environment which needs to be addressed. Public sector cuts and staffing reductions are having a significant impact upon the heritage sector’s ability to retain the skills and knowledge and respond to changes in the historic environment. Within the private sector, the small construction business base within Pennine Lancashire is challenged by the demands for cheap modern efficient homes resulting in a loss of skilled trade developed within the heritage sector. Whilst the construction sector is small, the Lancashire historic built environment presents local businesses a niche to develop heritage skills and trades. By working within historic environment, local businesses can regrow local heritage skills within construction serving both local and national assets. It’s important to recognise that heritage is not only for the indigenous population but also domestic and international migrants who have added layers to the historic fabric of the local area. More work needs to be done to work with local communities and those residing within the historic built environment to raise awareness of their own personal and family contributions to the local area. By engaging and increasing participation amongst the indigenous and different ethnic community groups, more Old Library, Booth St people will take ownership as heritage custodians. Pennine Lancashire public bodies need to continue to lobby Government and its departments to recognise the Heritage potential to accelerate local growth. Currently there is a lack of investment opportunities tailored to the built heritage sector especially in areas where market conditions are poor. Tailored support and funding to address heritage and conservation deficit has the potential to bring back unused floorspace for commercial, housing or recreational uses. Heritage assets should not be promoted in isolation but packaged together for visitors to help boost tourism. Pennine Lancashire’s extensive heritage assets can compliment both day and stay visitors through business, arts, culture and sport. For example, museums, mills ,football clubs and restaurants can work together to package day visits Old Library, Booth St within one itinerary. Heritage led regeneration can be achieved through increased visitor numbers, creation of a new image, increased income, expansion of other economic activity, population growth, enhanced civic pride, job creation, and further investment in attractions and environmental improvements. Pennine Lancashire needs to create more hallmark heritage experiences by working across public private and third sector to develop greater opportunities to strengthen its visitor economy. Finally, heritage is important and Pennine Lancashire will strive to preserve, conserve or empathetically manage change over time. As custodians of our local area, we have a duty to conserve and enhance our heritage for future generations. Pennine Leaders and Chief Executives have agreed to the Heritage Compact to ensure our built heritage is not lost. 4 5 INTRODUCTION TO THE STRATEGY The Heritage Investment Strategy is produced in collaboration between Pennine Strategic Aim Lancashire local authorities, Regenerate Pennine Lancashire and Historic England. It To maximise heritage related funding and investment to enable is a compact signed between Pennine Lancashire Leaders and Chief executives with the aim to raise the importance of heritage and how it can be used to deliver continued regeneration of Pennine Lancashire regeneration and growth. Objectives This document will: Showcase the distinctiveness of the area; Attract private sector investment to unlock heritage Highlight the value of heritage; regeneration projects for sustainable long term uses; Identify future priorities; Increase civic pride within local heritage by encouraging Align funding and investment opportunities. participation from local communities and businesses; In the past, local authorities used two approaches when dealing with heritage Improve profile andheritage tourism offer for people to visit buildings: by adapting and developing policies and measures (the dynamic approach) and by making the investments economically justified for the private sector by and stay in Pennine Lancashire. providing with subsidies and financial incentives (the support approach). Because of changes recent economic uncertainties, the latter approach has become more difficult to maintain. At present there are a number of heritage assets, some of which are at risk present significant opportunities for heritage led regeneration. There are industrial buildings, housing and infrastructure built during the industrial textile revolution which can offer social, economic and environmental