The register of assets of community value enables town and parish councils, local voluntary and community organisations the opportunity to nominate local land or buildings if they consider them to be of community value. This is called the Community Right to Bid.
There are two separate registers for successful and unsuccessful nominations. These include all assets nominated by groups as an asset of community value. It includes an identification plan and the reasons for this decision.
To list an asset, you must prove the main use contributes to the local community:
- Social wellbeing
- Sporting interests
Examples can include - village shops, pubs, community centres and playing fields.
We cannot include it when community use isn't the main function. Once we list an asset it places some restrictions on the owner if they decide to put it up for sale.
The listing gives a window of time to prepare to bid alongside other potential buyers if the asset comes up for sale during the five year period.
Any sale after the six month period, which takes place under normal market conditions, the owner doesn't have to sell to a community group. Community groups which have registered an interest don't have to bid or buy.