The role of Oadby and Wigston Borough Council
Oadby and Wigston Borough Council plays an administrative role in this process and is required to keep a list of all 'assets of community value'. Currently, there is one registered Asset of Community Value in the Borough of Oadby and Wigston.
Who can nominate an asset?
Parish councils or voluntary or community organisations with a local connection can nominate land or buildings that are important to them and are in their local area.
What is an Asset of Community Value?
In accordance with Section 88 of the Localism Act (2011), a building or land in the Borough of Oadby and Wigston is an asset of community value if the Council considers that the main use furthers the social wellbeing or social interests of the local community, or has recently done so, and is likely to do so in the future.
The asset may be owned by anybody, although some categories of assets are excluded from being eligible to be listed.
Local groups now have the right to nominate a building or land for listing by Oadby and Wigston Borough Council as an 'asset of community value'. When a listed asset is to be sold, local community groups will have a six month period to raise finance, develop a business plan and to make a bid to buy the asset on the open market.
How to nominate an Asset of Community Value
If your group is eligible to nominate an asset, you may wish to contact the Council for an informal discussion before you make a formal nomination. You may also find it useful to discuss your intention to nominate an asset with the owner.
If completed correctly, this will provide us with all the information we need to make a decision.
The form and additional information you submit with the nomination form should include the following:
- The applicant’s details;
- Evidence of the organisation’s legal status;
- A red line site plan, clearly illustrating the building or land that you are nominating;
- Details of the nominated asset, including a description, its proposed boundaries, the names of the current occupants, the names and current or last known addresses of all those holding a freehold or leasehold interest in the land;
- Reasons for nominating the asset – why it is of community value and how the nomination satisfied Section 88 of the Localism Act (2011); and,
- Evidence that the organisation is eligible to make the nomination.
The Council will update all interested parties of any issues or relevant information that may affect an asset on the list. The Council will inform the relevant freeholders, leaseholders, occupiers (if different to the owners), parish councils if the land lies within or adjacent to their parish, and any other community or voluntary organisation that has a registered vested interest.
What are the consequences of listing an Asset of Community Value?
The consequence of listing land or buildings as Assets of Community Value is to impose limited restrictions upon any subsequent sale or lease of the building or the land.
If the owner wants to dispose of a listed asset, the owner must inform the Council. The Council will inform the original nominating organisation and publicise the intended sale on the website.
There is then a moratorium period of six weeks in which a community or voluntary group wishing to bid must notify the Council of its interest. The owner must not sell the asset during those six weeks.
If neither the community nor voluntary organisation expresses any interest within six weeks, the owner is free to sell the asset without restriction or further delay.
If the community or voluntary organisation expresses an interest in bidding for that asset within six weeks of being notified, that expression of interest will trigger a second moratorium of six months during which the community or voluntary group can raise funds and bid to purchase the asset. The second and longer moratorium period will start to run on the same date as the first moratorium period, so that the total of both moratorium periods will not exceed six months.
The owner must not sell the asset during that six month moratorium period.
Any disposal of listed land or buildings by sale or lease is ineffective during the moratorium periods unless permitted by the Regulations in certain exceptional circumstances. At the end of six months, the owner can either accept or reject the bid made by the community or voluntary group and is then free to dispose of the land or building.
All owners (other than public authorities) may claim compensation for loss and expense incurred as a consequence of the listing of the asset in such an amount as the authority may determine. As with the original listing of the asset, the owner can seek the review of any determination of compensation as for the original listing, and can also appeal to the First Tier Tribunal.
National Planning Policy Background
The Localism Act came into effect in November 2011 and provisions which relate to Community Right to Bid (also known as the Assets of Community Value) came into force on 21st September 2012.
The Department of Communities and Local Government (DCLG) produced a non-statutory Advice Note on the Community Right to Bid (2012), providing a legislative overview of Part 5 Chapter 3 of the Localism Act and the Assets of Community Value Regulations (2012).
For more information or to submit a nomination form, please refer to the Regulations or contact the Planning Policy and Regeneration team, using the contact details provided on this page.
Last updated: Thursday, 22 February 2018 1:32 pm