asset of community value

a piece of land or a building is deemed to have community value if:

• its current or recent principal use furthers the social well-being or cultural, recreational or sporting interests of the local community

• its principal use will continue to further the social well-being or interests of the local community

examples of assets of community value include:

• daycare centres and schools

• pubs

• open spaces and heritage sites

• theatres, civic halls and buildings

• football grounds

if the owner of an asset of community value wishes to sell it, they must first inform the council. this triggers the community right to bid - which essentially gives voluntary and community organisations a chance to prepare to bid on the asset. there is a 6-month moratorium during which the owner cannot sell the property on the open market, designed to give time to the community groups to develop a proposal and raise any necessary capital.

eligible voluntary and community organisations can nominate both privately and publicly owned assets to be included on a list - managed by the council - of assets of community value. in order to be eligible, organisations must have a local connection to the asset they wish to nominate and they must be one of the following:

• an unincorporated community group with at least 21 members who are registered to vote in the local council area

• a parish council

• a charity

• an industrial and provident society

• a local neighbourhood forum

• a company limited by guarantee or a community interest company

nominations can be made using the assets of community value nomination form provided by the relevant local council. it must include:

• address of the building or land

• details of the owner (along with any current occupants in the case of a building)

• the extent of the site and its proposed boundaries

• reasons why it should be considered an asset of community value

evidence of eligibility requirements should also be submitted.

the property owner who is subject to a nomination can object to a decision by the council to list their building or land as an asset of community value. a request to conduct an internal review must be made to the council in writing within 8 weeks of notification of the listing. the council must then carry out this review within 8 weeks, subject to any agreed extension. 

the review must be carried out by a relevant council official who did not take part in the original decision. if the outcome of the internal review upholds the original decision, the owner has the right to appeal to the first-tier tribunal.

for further information, read this advice note for local authorities.