The owners of First Floor, 67A Holly Road have notified the Council of their intention to enter into a relevant disposal of the asset.
This has triggered the six-week interim moratorium period, during which a community interest group (as defined in the Assets of Community Value (England) Regulations 2012) can notify the Local Authority of their intention to bid for the asset. This will trigger a six-month moratorium period. During these periods, the owner will not be able to sell the asset to anyone other than a community interest group.
More information on understanding the Community Right to Bid.
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: 30 March 2020