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Assets of Community Value

posted on 05.02.2015 by Peter Scholl

Explanation

Communities can ask their Local Authority to list certain assets as being of value to the community. If an asset is listed as such and then comes up for sale, the new right will give communities that want it 6 months to put together a bid to buy it.

It applies to assets which may be important to a community such as a:

  • village shop
  • pub
  • community centre
  • children’s centre
  • allotment
  • library
  • recreation ground
  • nurseries and children’s centres
  • health centres, surgeries and hospitals
  • sport, recreation and culture
  • parks and open green spaces
  • sports grounds
  • theatres and cinemas
  • swimming pools and lidos
  • community services
  • community centres
  • youth centres

See:
government policies article

 

Comment

There may well be few cases in which the community seeks to impose a listing on such an asset. However this legislation may well be a deterrent to any commercial enterprise setting up a local facility which may become so listed. After all, once listed the asset would not be immediately saleable. Banks and lenders may accordingly be wary of lending on the security of assets which are or may become listed. “White knights” may also be reluctant to step in and save an asset if it is feared that their ultimate disposal of it may later be inhibited by its listing.

 

Legislation– Links

The right was introduced by Chapter 3 of the Localism Act 2011
and procedures are set out in The Assets of Community Value (England) Regulations 2012

 

Additional resources – Links

Community Right to Bid: Non-statutory advice note for local authorities
Campaign for Real Ale’s guide to nominating a pub
My community rights

Download the House of Commons briefing of December 2015 from the link at http://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN06366#fullreport


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