“When I first had the idea to set up my own Heritage Asset Preservation Trust about ten years ago, I was actually inspired by what I heard about Denbigh Hospital. I launched my Phoenix Trust [now The Prince’s Regeneration Trust] with the following – alas, prophetic – opening remarks: ‘I recently heard from a leading North Wales estate agent charged with disposing of an historic hospital building. He reported that the only enquiries he had received involved “breaking the site up and selling off the attractive elements”. Such asset-stripping, he pointed out, would leave most of the hospital's larger buildings unoccupied and decaying...’ And here I am at the front of that very building and I can only feel profoundly saddened that my sense of foreboding was proved right: the shocking example of cynical asset-stripping which has taken place here is truly disheartening.” HRH The Prince of Wales at the launch of the public consultation at the former North Wales Hospital, Denbigh, 11th July 2004

Whichever method of disposal is chosen, there are unfortunately plentiful examples to draw on that show that there is always a risk that the disposal strategy decided upon may ultimately prove to be unsustainable. This is mainly due to unrealistic expectations regarding the development of the site, lack of capacity and resources, or the sale of the asset with inadequate controls to ensure its appropriate renovation. Consequently the asset is likely to become derelict and fall into disrepair and pressure may mount for listed building consent for undesirable demolition work and/or associated ‘enabling’ development to fund the larger-than budgeted costs of securing the asset’s future.

The risk of such an outcome can be reduced by:

• Working in close partnership with all interested parties, including the local community, throughout the disposal process;

• Making the disposal conditional upon statutory consents being obtained and implemented within specified periods;

• Building capacity of the local community if it is intended to proceed with community transfer;

• Inserting claw-back or “overage” provisions in the event of development potential exceeding initial expectations to protect the public financial interest; and

• If the site contains groups of heritage assets and/or other heritage assets, packaging them together as a single development package.