Register of assets of community value
The purpose of the register of assets of community value is to make sure that if a registered asset comes up for sale, the sale can be suspended for up to six months. This is known as a moratorium period. This is to give local community groups the chance to make a bid to buy the asset on the open market and to raise the funds to do so. However, the owner still has the right to sell to whomever they want at whatever price at the end of this period. There is no first right of refusal for community groups. The community right to bid only applies to community facilities that are on the register of assets of community value.
List of Assets of Community Value - Section 87 Localism Act 2012
List of Land Nominated by Unsuccessful Community Nominations
|Land||Nominee||Date of rejections||Reason for rejection|
|Cambridge Hotel, London Road, Camberley, Surrey, GU15 3LF||Surrey/Hants Border - Campaign for Real Ale (CAMRA)||08/09/2016||The Asset does not fall within the definition of an Asset of Community Value for the purposes of listing.|