Assets of community value are those that community groups have asked us to list as important to them.
This is now a legal right and is designed to give communities more chance to take control of the assets and facilities that matter to them.
If an asset is listed and then comes up for sale, the new right could give communities six months to put together a bid to buy it.
Parish councils or local community groups can nominate both privately and publicly-owned assets which meet the community value definition. You can contact us if you need advice about whether your group qualifies.
The definition of community value
A building or land can be listed as an asset of community value if, in our opinion:
- current primary use of the building/land or use of the building/land in the recent past furthers the social well-being or social interests (cultural, recreational, or sporting) of the local community
- it's realistic to think that now or in the next five years there could continue to be primary use of the building/land which will further the social well-being or social interests of the local community, whether or not in the same way as before
Once an asset is listed, owners can't dispose of it without:
- letting the local authority know that they intend to sell the asset or grant a lease of more than 25 years
- waiting until the end of a six-week “interim moratorium” period if the local authority doesn't receive a request from a community interest group to be treated as a potential bidder
- waiting until the end of a six-month “full moratorium” period if the local authority does receive a request from a community interest group to be treated as a potential bidder
The owner doesn't have to sell the asset to the community group.
The regulations and explanatory note published by the government provide detailed information on who can make nominations, land that's exempt from being listed, the steps we must take when considering listing, arrangements for appeals and compensation and moratorium exemptions.
A decision on whether to list the asset will be made within eight weeks of receiving the nomination.
We maintain a list of all assets currently being considered.
Once a decision has been made, the asset details will be placed on a list of successful or unsuccessful nominations. A further list is maintained for successful nominations that have since been removed from the asset of community value register.
There is more guidance available on the assets of community value nomination process and the review procedure.
A nomination form is also available and should be returned to firstname.lastname@example.org.
If you need help completing the form, or want to speak to someone before submitting the application, see our nomination form guidance or contact Mark Codman, Scrutiny, Governance and Risk Manager, on 01423 500600 x58595.