Guidance notes
What is an Asset of Community Value (ACV)?
An ACV can be:
- a building, land or both;
- owned by anyone (private individuals, local government or the crown etc.)
The only criteria is that the ACV's principal use must further (or have recently done so) the social wellbeing of the community, and must be likely to be able to do so in the future.
Who can nominate an ACV?
- the town/parish council where the ACV is located
- a neighbouring town/parish Council which shares a border with the Town/Parish Council where the ACV is located
- an unincorporated group comprising 21 or more local electors
- a neighbourhood planning forum, or
- a community interest group with a local connection.
How to nominate an ACV
In order to nominate an ACV the nominating body must complete the Asset of Community Value Nomination form and return it, with all of the information provided as required by the form, to us.
What happens after a nomination is received?
Following receipt of a valid nomination, we have eight weeks to consider the nomination and then have the option to either:
- accept the nomination and include the property on the list of ACVs
- reject the nomination and include the property on the list of ACVs nominated but not accepted as ACVs. We will then notify the town/parish council where the ACV is located, and the owner/occupier of the property.
In the event that the nomination is accepted and the property is included on the list of ACVs the owner/occupier has a right to review that decision.
What is the effect of listing the property as an ACV?
It is listed as a local land charge with us and a restriction is entered on the title at the Land Registry against the disposal of the property.
The listing lasts for five years and can be re-nominated following that period.
The owner of the property must notify us of any intention to dispose of the ACV. Once we are notified of an intention to dispose of the ACV a six week moratorium is imposed (starting from the day we receive the notification) on the disposal to allow the bodies outlined above to make a written request to bid to take ownership of the ACV.
If a request is made to bid to take ownership of the ACV, the moratorium period is extended from six weeks up to six months to restrict any disposal of the ACV in order to allow the body to submit its bid and the owner of the ACV can seek compensation from us for any losses incurred as a result of the moratorium periods. The owner of a property accepted as an ACV has 28 days from the date they were notified of the decision to lodge a request for a review.
However:
It is important to be aware that this is a Community Right to Bid and is not a Community Right to Buy.
The vendor of the ACV is free to sell to whomsoever they chose and is under no obligation to sell the ACV to the body making the bid.
Assets which cannot be an ACV
- any residential property and land connected with a potential ACV except where the residential aspect of the use of the property is ancillary to its non-residential use (eg. accommodation within a pub)
- any licensed caravan sites; and
- any operational land belonging to statutory undertakers.
Exempt Disposals
The Regulations make it clear that certain disposals of property which are listed as ACVs are exempt from triggering the moratorium period.
These exempt disposals include, but are not limited to:
- disposal by gift
- disposal by will/intestacy
- disposals within the family
- disposals following a court order (e.g. divorce), and
- disposals as part of bankruptcy or insolvency proceedings
- sale of land on which a business is carried on, together with sale of that business as a going concern.
Review of decision to include the ACV on the list of assets
If we decide to include the property in the list of assets then there is a statutory right to request a review of that decision.