The Government through the Community Ownership of Assets programme have allocated £11.5 million for community groups to buy important community assets – pubs, shops, and community buildings.
You can find more about how the Community Right to Bid works below.
The one thing we can say for certain is Community Right to Bid has significant benefits for community groups, whilst at the same time having significant impacts for affected property owners.
So if you are looking to buy a community asset, or you own a property and think Community Right to Buy could affect you and you need to find out more call
What is it?
The Community Right to Bid (CRTB) would give community organisations the chance to bid for assets that are important to them. For example, a village shop or pub, a community centre, children’s centre or library building.
How would it work?
The first stage would be to draw up a list of assets of community value. Communities would be asked to identify assets of community value. The local authority would then ask any affected owners for their comment on the possible listing.
At this stage, the local authority would decide whether, or not, to list the asset. Owners would be given the chance to object. A successful objection would see the asset left off the list. An unsuccessful objection would mean the asset would be listed.
Before selling an owner of an asset placed on the list will now have to notify the local authority of their intention.
The local authority would then have to notify the nominating community group, and publicise the sale in the local area. After this, an interim window of opportunity would open. This would allow community groups to bid for the asset. If a group requests to be treated as a potential bidder during this period the full window of opportunity will apply. If not, the owner may proceed with the sale at the end of the interim period of opportunity.
If a group is treated as a potential bidder, the land owner is under no obligation to sell to the community group. They can sell to any bidder.
What are the implications of listing?
The main impacts would be:
- Additional burden on local authorities in establishing, maintaining and administering the list of assets.
- Need for owners and businesses to comment and object to listings.
- Community groups given a right to bid – landowners can sell to any bidder.
- Delay to sale of listed assets – this will vary depending upon whether or not the interim or full window of opportunity applies.
The Community Right to Bid will allow communities to identify and buy listed community assets, as and when they come up for sale. This will be done by limiting an owner’s ability to sell during a prescribed window of opportunity.
If the Community Right to Bid interests, or affects you, call Kirkwells on 01282 872570.
This is an amended article from one which originally appeared in April 2011.