Community right to bid
Right to bid process
If we decide a nominated building or piece of land is an asset to the community we will list the asset on our register of 'assets of community interest'. The nominating group and the asset owner (along with any stakeholders) will be notified of this decision. The asset will remain on the register for five years or until the property is sold. If the building/land is sold it may be placed back on the register by completing a new nomination form.
If the owner disagrees with the decision to list their property as an asset of community value they can request an internal review (within eight weeks of receiving notification). If the review is successful the asset is removed from the register.
All unsuccessful nominations will still be placed on the register so you will be able to see if a building or piece of land has already been nominated.
If the owner of a nominated asset that is listed on the register decides to dispose of/sell the asset they must notify us. We will then inform the group who nominated the asset that the owner has decided to sell.
An interim (moratorium) period of 6 weeks begins. This allows time for a relevant group to consider placing a bid and must inform us that they wish to be treated as a bidder for the asset.
If a community group are interested in placing a bid a six month moratorium period starts and gives the community group time to prepare a business plan and find the finances for the bid. At the end of this period the owner considers all the bids and they can sell to whoever they choose.
If no request to bid on an asset is made by a community group the owner is free to sell the asset.