Assets of Community Value are properties which contribute or have contributed to the social wellbeing of the local community. This includes cultural, recreational and sporting interests.
The Localism Act 2011 allowed specified community organisations to nominate land or buildings which could be included in a List of Assets of Community Value If you are interested in nominating a property as an Asset of Community Value please complete our online form - also refer to the Assets of Community Value Nomination Guidance. .
Once an asset is listed, its owner must let us know if they are intending to sell it. We will then advertise that the property is to be sold. Qualifying local community interest groups then have six weeks to register their wish to make a bid to buy it with us.
If interest is registered with us, the asset cannot be sold for six months. This gives the group time to work up their bid prepare and raise the necessary funds to acquire the property.
The opportunity to bid on an Asset of Community Value by a community interest group is a Right to Bid only. The owner of the listed asset is free to sell the property to whoever they choose and are under no obligation to accept the community bid. Also, community interest groups are under no obligation to purchase the property or place a bid if they register the right to bid.
If you have listed an asset, you can now apply for an Asset of Community Value (ACV) certificate to celebrate your building. Email the government’s Community Assets team at firstname.lastname@example.org for more details on how to get a personalised certificate for you to print out and display to let everyone know how much your space is valued by local people.
For more information on the Assets of Community Value listing process or the Community Right to Bid please:
You can also get guidance from the Legislation website…
The My Community website outlines the process and the steps a community group will need to do to take advantage of this legislation.
Locality is an independent national network of community-led organisations that is a source of advice and publications for community and local groups. They produce the following documents and further information…
The Charity Commission is a source of information on setting up and running charities. The model governing documents are a good model for constitutions.
Land Registry is a source of information on who owns property and maps of the property. To check if Derby City Council owns a property please call 01332 643332.