A community asset is a building or other land that has a current or recent use. This use can be shown to further the social wellbeing or social interest of the community. Social interests can include -
- cultural
- recreational
- sporting
It can be a private or publicly owned property. It cannot be a residential property.
It is necessary to show that the main use of the property can continue to meet these social objectives in the future.
If you are a community group, you may be eligible to nominate an asset of community value. If accepted, the group has an opportunity to make a bid for the asset if it comes up for sale. This is covered by part 5, chapter 3 of the localism act 2011.
Who can nominate
To be eligible to nominate an asset, a community group must be -
- a local parish council
- neighbourhood forums that are designated to take forward neighbourhood planning
- an unincorporated body. The group must include at least 21 members who are locally registered to vote
- a voluntary or community body with local connections
- a charity with local connections
- a company limited by guarantee or non-profit Industrial Provident Society
- a community interest group
Individuals cannot nominate community assets.
The Expression of Interest form and current assets can be found in our downloads.
If a nomination is successful
When an asset is successfully added to the list of assets of community value, it remains on the list for 5 years. After this it expires. Once 5 years have passed, a new nomination can be submitted.
If the owner decides to sell the property or lease it for a period of 25 years or more while it is listed, the owner must inform us of their intentions.
We then notify the community group of the owner’s intention to sell. They are given the chance to submit an expression of interest. Once an expression of interest is received, the community group have 6 months starting from the date the owner informed us of the intention to sell to put together a bid to buy the asset. The owner cannot dispose of the property during that 6-month period.
At the end of the 6-month period, the owner has the option to either accept the bid or sell the property on the open market. This is if a community bid has been submitted.
The listing of the asset does not compel the owner to sell it. The right to bid only applies when the owner decides to sell it. The scheme does not give the community group the right to buy the property, only to bid on it. In some instances, the local community bid may not be the successful one.
How to appeal
If the property owner does not agree with the decision to list the asset, they can request a review by an independent body.
The nominator of the asset, or others, are not able to request a review of the decision to list, or not list.
More information on assets of community value can be found on GOV.UK