Assets of Community Value

The legal requirement on local authorities to register certain land and buildings on request as an Asset of Community Value is set out in Part 5 of the Localism Act 2011 and Regulations made under the Act (which are identified in the nomination form on the website). There are detailed statutory provisions both for dealing with applications and the effect of a successful registration when the owner of the asset wishes to sell. For the most part, these are set out in the Regulations, but more guidance is available by following the link on the nomination form.

Nominations

In order to process a nomination application of an asset, the applicant has to return the Nomination form either by post or e-mail. We then have eight weeks to make a decision on whether or not the property should be registered as an Asset of Community Value.

Making a bid

Once the land and/or buildings are listed as an Asset of Community Value, the owner must notify us of his/her intention to sell the asset. This will be published on our website and all known interested parties will be notified in writing.

Once the owner has notified us of his/her intention to sell, any community group must complete the Expression of Interest form if they would like to make a bid to purchase the property within six weeks of the date of the notice of intention to sell (key dates are published in the table below). This period is known as the interim moratorium period. Once completed, the form should be returned by the deadline via email or by post to the address below.

If no community group notifies us within the six weeks that they wish to place a bid, then the owner is free to sell off the asset as they see fit.

If we receive a valid expression of interest form by the end of the interim moratorium period, then that group will have the remainder of a period of six months in which to place its bid. The six month period runs from the date the owner notifies us of their intention to sell the property. This is known as the full moratorium period. At the end of the six month period, if you have successfully put a bid together, the owner will have the option to either accept your bid or sell the property freely on the open market.

If you need assistance in completing the form please visit the 'My Community Rights' website.

Assets of Community Value - Section 94 i (a) - Localism Act 2011

Successful Nominations

Name and address of nominated asset	Fairlands Valley Farmhouse
Nominating organisation	Stevenage World forum
Date of listing	14/09/2017
Date of removal from list	26/09/2022
Date of notice of intention to sell	-
Interim Moratorium end date (6 weeks)	-
Protected period end date	-

Assets of Community Value – Section 94 i (b) - Localism Act 2011

Unsuccessful Nominations

Name of Property	Reason for non-inclusion
1 Town Square	Does not meet the requirements to be listed as an asset of community value
The Royal Oak public house 24 Walkern Road	Does not meet the requirements to be listed as an asset of community value