Introduction
What is the Community Right to Bid?
The Right to Bid, also known as Assets of Community Value, forms part of the Localism Act 2011. The aim of the right is to allow local community and voluntary organisations to nominate any local assets – either publicly or privately owned – that they believe have “community value”. When the owner wishes to sell an asset of community value, they must inform the local authority. A moratorium period then applies, during which no sale can take place, to allow the community organisation time to prepare and submit a bid for the asset.
The following pages explain the right in more detail, and explain how a local organisation can nominate and bid to buy an asset.