Community Right to Designate for Assets of Community Value
Under the Localism Act, voluntary and community organisations can nominate an asset to be included on a list of 'assets of community value'. This list is managed by us.
If a landowner wants to sell a registered property, they must tell us. If a group wants to buy the asset, they can trigger a six month moratorium to give them a chance to raise the money but the landowner can still sell to whomever they please.
This period gives community groups some time to develop a proposal and raise the required capital to bid for the property at the end of the moratorium period. It is for the landowner to decide if they wish to accept any community bid.
Register of assets of Community Value
The register of assets of community value will appear here once we have assessed the first nominations.
- If we deem that the asset does have community value, and it is in their local area, then it will add that asset to the ‘assets of community value’ register.
- A landowner can ask us to review the inclusion of the asset from the register and there will be a process for an appeal to an independent body.
- We must also maintain a register of ‘land nominated by an unsuccessful community nomination’.
- If land is included in the register of assets of community value it will remain on that list for five years.