Assets of Community Value and Community Right to Bid
Last Updated: 18 October 2022
The Community Right to Bid allows communities and parish councils to nominate buildings or land for listing, by us, as an asset of community value.
When a listed asset comes to be sold, a delay of up to six months can be initiated (know as a 'moratorium'). Local community groups get a better chance to raise finance, develop a business plan and to make a bid to buy the asset on the open market. A nomination will not stop a sale that is already in progress.
Assets of community value
We can list an asset if its principal use furthers (or has recently furthered) their community’s social well-being or social interests (which include cultural, sporting or recreational interests) and is likely to do so in the future.
Examples of assets of community value can include:
- a village shop
- community centre
- children’s centre
- library building
- local pub
You cannot list the following as an asset of community value:
- assets being transferred between businesses
- Church of England land holdings
We are required to keep a register of all successful and unsuccessful nominated assets in South Lakeland.
Nominate an asset
Each nominated asset will be considered. Once the application validation is complete and the application is considered 'valid', from that day the Council has 8 weeks to assess the application and either agree to add it to the Community Asset Register or not.
A separate nomination form will be required for each asset.
The nominator and owner of the asset will be advised of the decision.
Then the asset will then be added on to either the register of successful nominations or the register of unsuccessful nominations.
When assessing nominations each case will be considered on its merits, with particular reference to the Assets of Community Value (England) Regulations 2012.
Further information and advice is available on Understanding the Community Right to Bid