After we list an asset
After we list an asset as an asset of community value, the owner can ask us to review our decision.
The owner has to ask us for a review within eight weeks of our decision.
We will hold the review within eight weeks of the owner asking for it.
Community right to bid
Once we have listed an asset, the owner can't enter into a relevant disposal without notifying us.
You can look at the Localism Act 2011 and the Assets of Community Value (England) Regulations 2012 to find out about relevant disposals. You also need to check which disposals are permitted.
If you have successfully nominated an asset, we will then notify you that the owner is planning to dispose of it. This will trigger the interim moratorium.
You will have six weeks from our notification to tell us that you want to make a bid for the asset.
If you want to bid, the owner will not be able to dispose of the asset for six months. The six months will start from the date the owner notified us of their intended relevant disposal. This is the full moratorium.
The community right to bid only ensures that you will have the opportunity to raise funds to buy the asset. It does not:
- guarantee that you will be able to buy the asset or force the owner to sell it to you
- give you first right of refusal
- restrict who the owner can sell the asset to
- determine the price the owner has to sell the asset for
- place any express restrictions on how the owner uses the land or building, or who they sell it to
- imply that you will have access to public funding to buy the asset
Removal from the list
After five year, we will remove an asset from the list of assets of community value.
However the local community may re-nominate the asset for inclusion on the list.
We will assess all new applications the quality of the information in the nomination.
We will not relist a property simply because it has already been an asset of community value.
We will remove assets for other reasons other reasons, such as:
- following a compliant disposal
- following review or appeal
- if we consider it is no longer an asset of community value