Assets of Community Value
What is Community Right to Bid?
Under the Localism Act 2011, the Community Right to Bid process enables eligible groups and entities to nominate land or property (in private and public ownership) to be registered on the Assets of Community Value Register (ACVR). The process is designed to offer communities greater opportunities to take ownership of assets and facilities important to them.
When a listed asset is considered for disposal, owners of the listed asset are required to inform us of their intention to dispose. Eligible groups will then have up to 6 months to prepare a bid for the property, during which time the owner is unable to enter any other arrangements to dispose of the property. In the context of the Community Right to Bid, the legislation defines disposal as a freehold sale or a leasehold transaction of 25 years or more.
The legislation does not provide a right for the eligible group(s) to purchase the property, nor does it restrict the use of the nominated property for community activities. The process affords eligible groups up to six month’s (the moratorium period) to raise finance, develop a business plan and make a bid to acquire the property. On expiry of the six-month moratorium period, the owner of the listed asset may sell to whomever they wish.
Last updated 19 February 2024