Assets of Community Value

The Community Right to Bid for Assets of Community Value allows voluntary and community organisations to nominate an asset which they consider has benefits for social well-being and social interests. If the owner of a listed asset wants to sell, they must contact the council, who in turn will notify the nominating community group. The community then has an opportunity to bid for the property/land within the first six months of the property going on sale. The right came into force on the 21 September 2012 under the Localism Act 2011 and will give community and voluntary bodies the opportunity to nominate, bid and take over the running of assets that are considered of value to the local community. What is an asset of community value? An asset must be a building or land A building or land is of community value if the local authority decides that: the current (non-ancillary) use of the building furthers the social well-being or social interests of the local community, and it is realistic to think that there can continue to be non-ancillary use that will further the social well-being or social interests of the local community There are two resources listed one for the approved list and one for applications that were refused.