List of assets of community value

This new community right (sometimes called the "community right to buy" or "community right to bid") allows defined community groups, to ask the council to list certain assets as being of "community value".

This is designed to give communities more opportunities to take control of the assets and facilities important to them. A decision will be made, by the council, within eight weeks of the receipt of a completed nomination form on whether to list the asset.

Under chapter three of the Localism Act 2011 and the Assets of Community Value (England) Regulations 2012, the council will publish:

• A list of all the assets the council has determined to be of community value (as described by the act) after it has been properly nominated. Assets will be removed from the list when they cease to be determined of community value
• A list of all the assets the council has determined not to be of community value (as described by the act) after it has been properly nominated. This will include the reason for the asset not being listed
• A list community assets is available to download from this page

If an asset is added to the list of assets of community value, the owner of the property will be required to delay any subsequent attempt to dispose of the asset because a moratorium process comes into force. To assist community groups taking an opportunity to acquire the property, the council will add the following details to each asset on the list as follows:

1. A notification by the owner of intention to dispose of the land has been received by the local authority and the date this was received
2. In all cases under (1), the end dates of the interim and full moratorium periods and the protected period
3. Where relevant, that the full moratorium has been triggered
4. Where (3) applies, the identity of the community interest group that triggered the full moratorium

Note

The "interim moratorium" period is a six week interim period, which will apply in all cases, from the point the owner notifies the local authority of their intention to dispose of the land. This will allow community interest groups to make a written request to be treated as a potential bidder. If none do so in this period, the owner is free to sell their asset at the end of the six weeks.

The "full moratorium" period is a full six month moratorium (again from the point the owner notifies the local authority) which is triggered if a community interest group makes a request during the interim period for a full moratorium to apply.

During either an interim or full moratorium the owner may continue to market and negotiate sales, but may not exchange contracts (or enter into a binding contract to do so later). There is one exception. The owner may sell to a community interest group during the moratorium period.

Further information

• A plain English guide to the Localism Act
• The Assets of Community Value (England) Regulations 2012
• Taking on an asset is a major commitment. A source of help and advice is available from Locality

This page was last updated on 3 December 2019