Assets of community value
How does the process work?
Community groups nominate a building or piece of land they feel is important. If we agree with the nomination, we will list it as an 'asset of community value'.
The property owner can appeal this decision, firstly to the Council through a listing review and then to a tribunal.
Nothing further will happen until the owner decides to dispose of the building or land - they will also only be allowed to dispose of it after a specific period of time.
During this period, groups can write to express an interest. This bid will trigger a pause in proceedings to allow the group to raise the necessary funds. After this period the owner is free to sell to whomever they choose. If no groups express an interest, the owner can sell the asset.