What is a social value lease? In this quick Q&A, Gabriela Martino, Regeneration Manager at Haringey Council, explains.
Buildings can have social as well as commercial value. The public benefits of buildings can include supporting local businesses, offering residents work and training opportunities, and building and retaining wealth in the community.
A social value lease is a way to recognise and encourage these kinds of public benefits. It ascribes monetary value to social value outcomes. A good example of a social value lease can be seen through Haringey Council’s Community Wealth Building Lease, which quantifies the social value delivered by a tenant and discounts it against the market rate.
In this Q&A, Gabriela Martino, Regeneration Manager at Haringey Council, answers three quick questions about social value leases:
- What is a social value lease?
- Can you give a practical example of a social value lease?
- What challenges and opportunities should people be aware of?
About the expert
Gabriela Martino is a Regeneration Sites Manager at the London Borough of Haringey. Gabriela is currently working on the council’s successful ‘Future High Streets Fund’ programme, to deliver workspace, Council rented homes and placemaking.