Community Right to Bid
What is Community Right to Bid?
The Community Right to Bid Legislation provides for community groups to bid for locally important "community assets". This includes buildings as well as land such as parks. Thereby giving them an opportunity to secure the asset's future use for the benefit of the local area.
The legislation provides for local community groups to nominate privately and publicly owned land and buildings to be listed as assets of community value.
It is for us to determine whether:
- The nominated assets contribute to the social wellbeing of the area.
- The nominated assets can be recognised as being assets of community value.
View the panel guidance note (PDF, 62KB), which is supplementary to the policy. It includes useful information like how "community value" is decided.
What happens after an asset is listed?
Once listed, the owner of the asset of community value is not able to "dispose" (including a sale or a lease of 25 or more years) of it until an opportunity has been provided for interested community groups to register an interest in purchasing. If so a further opportunity for submitting an offer on the open market for the asset alongside other offers that the owner may receive for it. The provisions do not restrict in any way who the owner of the asset can sell to or at what price. Nominations do not have the effect of preventing the sale of assets which are on the market at the time that the nomination is received.
Is there a list of nominated assets?
The Council maintains three publicly accessible lists containing information relating to nominations and decisions.
- List of nominated assets: this lists the assets which have been nominated and are awaiting a decision by the deciding panel.
- List of successfully nominated Assets of Community Value: this is a list of the assets which have been successfully nominated as assets of community value.
- List of unsuccessful asset nominations: this is a list of the assets that the deciding panel deemed did not meet the criteria of an asset of community value, including a brief summary of the panel's reasoning.
How to make a nomination
- Download or print out the Assets of Community Value nomination template.pdf (mycommunity.org.uk).
- Complete the nominations template.
- Submit the completed template for consideration, electronically to firstname.lastname@example.org or by post to: Asset
of Community Value Nomination, c/o Assistant Director of Regeneration, Isle of Wight Council, County Hall, High Street, Newport, Isle of Wight, PO30 1UD.