Community Right to Bid
The Community Right to Bid, also known as Assets of Community Value, gives people the chance to bid to buy and take over the running of assets that are of value to the local community.
On this page you can find out how to nominate a building or land to be listed on the register and what that means for a building.
What is Community Right to Bid?
The Community Right to Bid gives members of the local community the right to nominate buildings and land (assets) that you think are important to your community for listing on the Register of Assets of Community Value.
The right came into force in September 2012 as part of the Localism Act 2011.
These buildings can be publicly or privately owned.
If a building or land on the register comes up for sale or a lease of at least 25 years, the nominating group will be notified and they will have up to six weeks to say whether or not they will bid for it, and up to six months to prepare the bid to buy or lease it.
The owner does not have to sell the building or land to the community group, but you will be allowed time to put together a bid to buy it on the open market.
Qualifying as an Asset of Community Value
A building or land can be listed as an Asset of Community Value if it:
- is currently being used, or was used in the last five years, for activities which improve the social wellbeing and interests of the local community; or
- will continue to be used for at least the next five years for activities which improve the social wellbeing and interests of the local community.
It could be your local:
- Community centre
- Shop
- Library
- Pub
- Sports centre
- Playing field.
The Register of Assets of Community Value
A building or piece of land will stay on our Register of Assets of Community Value for five years.
We also keep a Register of unsuccessful nominations.
Nominate a building or land as an Asset of Community Value
You can nominate a building or land to be listed as an Asset of Community Value if you are a 'community interest group'. A community interest group could be a:
- Parish Council
- unincorporated group with at least 21 members on the Tower Hamlets electoral register
- community forum
- charity
- company limited by guarantee that doesn't distribute any surplus to members
- industrial or provident society that doesn't distribute any surplus to members
- community interest company.
You should consult the guidance and fill in the nomination form and send it to:
London Borough of Tower Hamlets, Legal Services,
Tower Hamlets Town Hall
160 Whitechapel Road
London
E1 1BJ
Alternatively, you can email the form to legal.property@towerhamlets.gov.uk.
Deciding whether a building or land is an Asset of Community Value
We will look at your nomination, in accordance with the regulations, to see whether the building or land qualifies to be listed as an Asset of Community Value.
We will decide whether to list it and write to you to tell you what our decision is, no more than eight weeks after we have received your nomination form.
Further information and guidance
You can get help and advice with your nomination from the My Community website.
Full details of the Community Right to Bid are contained in the Assets of Community Value (England) Regulations 2012.
Should you wish to speak to a council officer about the process please call Wayne Trevor on 020 7364 6916 or email wayne.trevor@towerhamlets.gov.uk.