Nice to have some more people entering the world of architecture!
I'll leave others more knowledgeable comment about shop setup & space needed for all the different equipment. I've found that a big work bench is very useful though, if you have the space that is. At the very least you can put your grinders, drill presses & all the other tools you pick up on one centralized location.
In regards to heating the home with the forge, have you thought about using hydronic in-slab heating? You could loop heating lines in the bed of the coal forge, recycling heat from the forge when in use & storing it in a thermal tank tied to the hydronic system. The forge loops could be tied into a pump that switches on when the forge blower fan is in operation.
Since you are already using a storage tank, you could even add solar hot water panels to the house for additional heat supply during the day. I'm not sure the climate in the UK can support solar hot water (since supposedly its rainy & overcast all the time over there!), but I'll let you be the judge of that. This will cut down on heating costs, in theory anyways.
I'm tempted to separate the shop & home, not only for fire safety but also to keep sound transmission between the two spaces down too. I'd fire rate the shop walls & ceiling even if is not required by local Code, since blacksmithing has a greater risk of fire related incidents, may as well err on the side of caution. It would also be nice to choose construction materials and/or finishes to deaden sound in the shop. Maybe just some acoustic paneling on the walls will do the job.
Sounds like a fun project, you should let us know how things go!
Simon