Community Right to Bid
Background
Community Right to Bid was introduced in 2012 under the Localism Act 2011. It gives community groups and other bodies the opportunity to nominate community assets (buildings or land) for listing as an Asset of Community Value. Then if/when the owner of a listed asset wishes to sell the asset the community group has the option to submit a bid to purchase it.
Community Right to Bid is a two stage process:-
- Nomination of an asset as an Asset of Community Value (ACV)
- Bidding (Community Right to Bid) on an asset listed as an ACV
As this process is both complex and legalistic, we strongly encourage any group who is interested in nominating an asset to take appropriate professional advice prior to submitting their application.
