The Localism Act 2011 allows certain organisations the chance to nominate public and privately owned buildings or land as ‘Assets of Community Value’. The Assets will be held on a list by Crawley Borough Council.
If a listed asset is placed on the market, the landowner must tell the Council. If a local community group wishes to buy the asset they can trigger a 6 month ‘moratorium.’
During this period the owner cannot sell the Asset of Community Value on the open market. In this time, local community groups are given the chance to prepare a bid, creating an increased chance to save local shops, pubs or other facilities by developing a proposal and raising the required capital.
At the end of the 6-month period, the owner of the asset is free to sell the asset to whoever they wish and at any price.
Examples include village shops, pubs, community centres, children’s centres, allotments and libraries.
To be listed as an asset of Community Value, a piece of land or building must however meet certain legal criteria.
A building or piece of land is deemed to have community value if:
Residential properties, their gardens, outbuildings and other associated land cannot be listed as a community asset.
On other websites:
tel: 01293 438000
email: click to email us
Legal and Democratic Services