Assets of community value

What is the community right to bid?

The community right to bid was introduced by Chapter 3 of Part 5 of the Localism Act 2011 (LA 2011) to enable local community groups to nominate buildings or land for listing by the local authority as assets of community value. When buildings or land listed as assets of community value come up for sale or change ownership, a moratorium on the sale of up to six months can be invoked, providing local community groups with an opportunity to bid to buy the asset on the open market.

Importantly, there is no right for the community to buy the ...

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