An Introduction to Assets of Community Value & the Community Right to Bid

In Breckland, there are important buildings, places, and land that matter to the local community. In 2011, the Localism Act introduced a way for the community to safeguard these assets. This process allows Community Interest Groups to suggest that these places should be recognized as "assets of community value."

To be recognized as an Asset of Community Value (ACV), a place must currently or recently have been used in a way that benefits the community's well-being; and should prove viable to continue into the future. This includes uses like sports, culture, or recreation. However, there are a few cases where places, like residential property, won't be considered for this recognition.

This process temporarily stops certain property sales so that community groups can try to raise funds and buy the asset themselves. This helps the local community keep places that are important for their well-being and interests. This is known as the "Community Right to Bid." 

Last updated: 22/03/2024 11:02:53