Community Right To Bid (Assets of Community Value)
The Community Right to Bid ('the Right'), which is also known as Assets of Community Value is one of the new community rights derived from the Localism Act, 2012.
The aim of the Right is to enable communities wishing to protect valuable local assets (land and buildings) by requiring the Council to maintain a list of assets of community value which have been nominated by the local community, this includes both successful and unsuccessful nominations.
When listed assets come up for sale, the Act then gives community groups the time to develop a bid and raise the money to bid to buy the asset when it comes on the open market.
The Right does not restrict in anyway who the owner of the asset can sell his property to, or at what price and it does not confer a right on first refusal to community interest groups.
What is an asset of Community Value?
- It is at least partly within the local authority's area
- Its main use (i.e. not ancillary) has recently been or is presently being used to further the social well being or social interests of the local community and could reasonably do so in the future i.e. within the next 5 years
- It does not fall within one of the exemptions specified in Regulations. These are listed in the Assets of Community Value Regulations.
The Right does not apply to residential property or operational land as defined in the Town and Country Planning Act 1990 Part 2
Who can nominate an asset?
Only voluntary and community organisations with a local connection, so based in Torridge or a neighbouring authority can nominate an asset for inclusion on the list. This includes:
- Neighbourhood Forums
- Parish Councils
- Unincorporated bodies of 21 named members
- A Charity
- Company Limited by Guarantee
- Industrial or Provident Society
- Community Interest Company
Who makes a decision about whether a nomination is successful or not?
The Council will make a decision on whether the nomination is successful or not. If it is not successful information will be provided to explain their decision.
The nominating group will be informed within 8 weeks of validation of the Council's decision.
What if I am unhappy with the decision made by the Council?
If the asset owner is unhappy with the Council's decision to list an asset they can request to lodge a review of the Council's listing decision within 8 weeks of the written notification of listing.
Information will be provided directly to asset owners about how they can do this once they receive notification of the Council's listing decision.
Viewing nominated properties
This includes both successful and unsuccessful nominations. Please use the tabs of the excel spreadsheet to see the status of the nomination.
Where can I find Additional information?
The Council's Approach
The Council has developed a local policy to implement the Community Right to Bid.
If you're interested in nominating a local asset, please complete our Nomination Form
send to email@example.com or print and complete and send to
Torridge District Council