Assets of community value
The Community Right to Bid (‘the Right’), which is also known as Assets of Community Value is one of the new community rights derived from the Localism Act 2011, all of which have a stated aim of devolving power to local communities.
The aim of the Right is to empower communities wishing to protect valuable local assets (land and buildings) by requiring the Council to maintain a list of assets in its area which are of community value, so that upon sale, the community will have a chance to delay a sale in order to prepare a bid to buy it.