In England, an asset of community value is land or property of importance to a local community which is subject to additional protection from development under the Localism Act 2011. Voluntary and community organisations can nominate an asset to be included on their local authority's register of asset of community value.
Criteria
Under the terms of the legislation, registration as an asset of community value covers three aspects:
Community right to bid: this allows an ACV to be purchased by a group representing its users or the local community;
Compulsory purchase rights: an ACV-registered building can be compulsorily purchased by the local authority or council "if the asset is under threat of long-term loss to the community".
Restrictions
The owner of an asset of community value must inform the local authority if they wish to sell the asset. If a qualifying community group wants to buy the asset, they can trigger a moratorium for six months, to give them a chance to raise the money to purchase the asset. The owner does not have to sell to a community group. The asset of community value listing only improves the chances of community groups being able to purchase by providing more time to raise funds. It does not require the owner to sell at a discount. The listing of a property as an 'Asset of Community Value' lasts for five years after which it is automatically delisted and the restrictions imposed by the covenant are removed. Communities can however apply for the listing to be renewed. Care should be taken to ensure the listing is continuous- apply for renewal not less than 8 weeks before the original listing ends. Between 6th March 2015 and 22nd May 2017 there was special protection in place protecting ACV listed or nominated pubs from a change of use or demolition under the 'Permitted Development' rules in the General Permitted Development Order. From 23rd May 2017 onwards this protection is extended to all pubs regardless of their ACV status, under the Amendment to the GPDO.This means that any change of use or demolition now requires full planning permission.
Numbers
By late 2015, of about 860 pubs across the country which had registered as ACVs, twelve had been acquired by groups under the Community Right to Bid and none had been purchased under compulsory purchase powers, although in 2015 there were two cases where the latter was being investigated; in 2018 there are currently about 6 pub CPO actions being considered or underway. The largest group of listings have been for pubs, with over one hundred listed by August 2013 and six hundred by March 2015. Sport and leisure facilities include Ewood Park football stadium, Old Trafford football stadium, St. Andrews football stadium, Blackpool Football Stadium, Bloomfield Road, Blackpool, Newbury Football Ground, The Valley and the South Bank Undercroft; sports clubs; parks including Myddleton Square in Islington.
