Assets of community value
What is an ‘Asset of Community Value’?
Under the Localism Act 2011 Parish Council and community groups can nominate a public or private asset to be registered on the Assets of Community Value register giving communities the opportunity to collate a bid for an asset should it be disposed of on the open market.
Assets of Community Value are land or buildings that:
- The primary current use of the asset furthers the social wellbeing or social interests (cultural, recreational and/or sporting) of the local community; and
- It is realistic to think that there can continue to be use of the asset which will further the social wellbeing or social interests of the local community, although not necessarily in the same way as before
- Also, if it had such use in the recent past and it is realistic to think that there is a time in the next 5 years when it could do so again (whether or not in the same way as before)
For further information please see s88 of Localism Act 2011
Excluded from Assets of Community Value:
- A residence and land connected with that residence further defined within the regulations
- Land licensed for use as a residential caravan site
- Operational land of statutory undertakers see s263 of Town & Country Planning Act 1990
Who can nominate an asset?
- Parish/Town Council
- A properly designated Neighbourhood Forum
- Unincorporated bodies (must have 21 local members and must not distribute any surplus it makes to members)
- Community interest company
- A company limited by guarantee or industrial and provident society (to be known as Community Benefit Societies) that are not profit distributing
How to nominate an asset
Please complete the Nomination Form and submit it to the Corporate Asset Manager, Regeneration Enterprise & Planning, The Guildhall, St Giles Square, Northampton, NN1 1DE.
What happens following a nomination?
- Please see the Nomination Process.
- See the register of Assets of Community Value and Unsuccessful Nominations.
- If you own an asset that has been nominated please see Owners Appeal & Compensation Process.
For clarification on any of the above please see the information on .gov or contact Regeneration, Enterprise & Planning at Northampton Borough Council.