Under this Act, voluntary and community organisations can nominate an asset to be included on a list of ‘assets of community value’. We manage and display this list.
If an owner wants to sell a listed asset, a six month moratorium period will be triggered, during which the asset cannot be sold. This period gives community groups some time to develop a proposal and raise the required capital to bid for the asset once it comes onto the open market at the end of the moratorium period.
With the exception of residential properties, any building or land may be listed as an asset of community value if we determine that the primary current use of the asset 'furthers the social well-being or social interests of the community'.
The asset will be considered to have community value if we determine the following:
For more information, read the Assets of Community Value Regulations 2012.
Updated: 17 March 2020