Assets of Community Value
The Community Right to Bid Assets of Community Value (England) Regulations 2012 is part of the Localism Act (2011) and came into force in September 2012. Under these regulations, Local community and voluntary bodies and parish and town councils are able to identify land and buildings that provide an important service in their community and nominate these assets for inclusion on a register of assets of community value which is managed by West Northamptonshire Council.
Community groups have the right to nominate a building or land for listing by the Council as an ‘asset of community value’. When a listed asset is to be sold, local community groups will have a six month period to raise finance, develop a business plan and make a bid to buy the asset on the open market.
Who can nominate?
The following groups are eligible to nominate an asset to be included on the list:
- Parish and town councils
- Unincorporated groups
- Neighbourhood forums
- Community interest groups with a local connection
What is an asset of community value?
A building or land in West Northamptonshire is an asset of community value if the council considers that "the main use furthers the social wellbeing or social interests of the local community, or has recently done so, and is likely to do so in the future (during the next five years)".
The asset may be owned by anybody, although some categories of assets are excluded from being eligible to be listed.
Should you have any specific queries on the Asset of Community Value process, please contact [email protected].
To find out more or nominate an asset please select your local area:
If your area isn't listed, you may be a resident of North Northamptonshire.
Last updated 01 December 2022