Community Right to Bid

If/when the owner decides to dispose of an asset listed as an Asset of Community Value (ACV) they must advise the council of their intention to sell. We will publicise this, with key dates, on our website and inform the group who originally nominated the asset as and ACV.

The nominating group then has 6 weeks to decide and inform the council, if they wish to submit a bid for the asset (Community Right to Bid).
If the nominating group wants to bid for the asset they then have 6 months to become an incorporated body (if they are not already) and raise the funds to purchase the asset
At the end of the six months, the owner will review all bids and choose who to sell the asset to. The owner is under no obligation to sell the asset to the group who nominated it as an ACV

The protected period

If the asset owner does not dispose of the freehold or grant a lease of 25 years or more within 18 months of the date we were informed of their intention to dispose, and the asset is still listed as an ACV, then the process must start again
As such the asset owner may not dispose of the asset without first informing us of their intention to dispose and the protected periods of time will apply again