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Chater Valley is a Site of Special Scientific Interest in Leicestershire, covering 0.04 km². It is one of 69 Sites of Special Scientific Interest in the county. It is one of the smaller SSSIs in the county.
Nearby nature reserves include Rutland Water Country Park, Burrough Hill Country Park and Lyndon Nature Reserve (Rutland Ospreys). For arrivals by rail, Oakham Station is about 6.7 km to the north-east.
