Assets of Community Value

Introduction and Community Support

The Parish Council may receive requests from local residents to consider submitting an application to BANES to list certain assets, like a pub or shop, as an asset of community value.

If an asset is listed and then comes up for sale, the new right could give communities that want it a total of 6 months to put together a bid to buy it.https://www.bathnes.gov.uk/services/neighbourhoods-and-community-safety/localism-and-community-planning/new-community-rights/as

Evidence will be required from the community as to why the asset should be listed as an asset of community value.

About Assets of Community Value

This new Community Right (sometimes called the “Community Right to Buy” or “Community Right to Bid”) allows defined community groups, including Parish Councils, to ask the Council to list certain assets as being of “community value”. This is designed to give communities more opportunities to take control of the assets and facilities important to them.

If an asset is listed and then comes up for sale, the new right could give communities that want it a total of 6 months to put together a bid to buy it (including a 6-week cut-off for an initial proposal to be put forward).

What happens once an asset is listed?

Once an asset is listed, the owner cannot then 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 does not 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 receives a request from a community interest group to be treated as a potential bidder
• The owner does not have to sell the asset to the community interest group.  

Research required for a Nomination

Refer to http://www.bathnes.gov.uk/sites/default/files/acv_nomination_guidance_190117_0.pdf
Nomination Form: http://www.bathnes.gov.uk/sites/default/files/assets_of_community_value_nomination_form_-_feb18.doc

Legislation: The Assets of Community Value (England) Regulations 2012 https://www.legislation.gov.uk/uksi/2012/2421/contents/made?wrap=true

Details Required for the Nomination Form:

• A description of the nominated land including its proposed boundaries
• The names of the current occupants of the land
• The names and current or last-known addresses of all those holding a freehold or leasehold estate in the land
• What is the current or recent non-ancillary use of the land and/or building?
• C2) Is any aspect of the nominated land and/or building’s usage actively discouraged by the Council’s Policy and Budget Framework? (A request will be made of the council officers to comment for their individual themes on whether the nomination conflicts with their plans, strategies and policies.) See https://www.bathnes.gov.uk/services/your-council-and-democracy/policy-and-budget-framework
• Has the land and/or building requirement for this usage changed significantly since its initial use so that the asset is not fit for purpose?

Evidence Required from the Community

• C1) How does the nominated land and/or building meet the social interests of the local community as a whole? (Show how the current main use of the building furthers the social interests or social wellbeing of the local community as a whole, what are the consequences is usage ceases, include evidence)
• C3) Why is the nominated land and/or building usage seen as having social value for the local community? (Evidence on impact on local community pride, cohesion, sense of place, sustainable living, areas of need)
• C4) How strongly does the local community feel the land and/or building usage furthers their social interests? (Evidence supplied by local stakeholders (eg survey, petition), evidence of soundness of gathering community feedback, reference to parish plan/community plan or other local documents, evidence from local ward members)

What help is available?

Grant funding may be available, for example, match funding: https://www.communityownershipfund.co.uk/