Community Right to Bid
The recently published Community Right to Bid Legislation provides for community groups to bid for locally important "community assets" (including 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 the Council to determine whether the nominated assets contribute to the social wellbeing of the area and are therefore able to be recognised as being assets of community value. View the Council's Community Right to Bid Policy. The Council has prepared a guidance note, which is supplementary to the Council's policy and includes useful information such as how "community value" is decided.
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, and 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.
The Council maintains three publicly accessible lists containing information relating to nominations and decisions. These are available as hard copies on request as well as online. Links to the online versions of the lists can be found at the top of this page under the following tabs:
- List of "Nominated Assets" - this is a list of the assets which have been nominated and are awaiting a decision by the deciding panel.
- List of successfully nominated "List of 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.
Nominations for consideration should be submitted electronically to email@example.com or alternatively posted 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