Assets of Community Value
The Localism Act 2011 introduced the Assets of Community Value. It enables certain groups to nominate land and buildings (assets) that they believe are important to the social wellbeing of their local community.
Local community and voluntary organisations, neighbourhood forums and parish councils can identify land and buildings which provide an important service in their community. They can nominate these to be placed on athat we keep. Further details on the types of organisation eligible to make a nomination are defined in Section 89(2)(b) of the Localism Act 2011 and Regulation 5 of the Assets of Community Value Regulations 2012.
How Assets of Community Value works
If the nomination is successful, we will include the asset on its list of Assets of Community Value. If land or property on this list comes up for sale, an interested group or groups have up to six months to raise money and bid to buy this, before it is put up for sale on the open market.
This does not restrict who the owner can sell their land or property to, or at what price. The owner does not have to give the right of first refusal to community organisations - it just gives the organisation time to raise money to buy it.
Use our guides to help you complete the form:
Reports and decision making
All decisions in relation to nominating Assets of Community Value can be found on the Officer decisions by selecting a data range and searching by the Reference Number indicated in the .
What happens when items on the list are to be sold
When items on the List of Assets of Community Value are to be sold, we post a notice of intention to dispose of a community asset.
Help and guidance
For further advice and guidance on how we administer and process the Assets of Community Value nominations please contact us.