The following Local Government guidance note provides comprehensive and up to date legal information covering:
The community right to bid was introduced by sections 87–108 of the Localism Act 2011 (LA 2011) to enable local community groups to nominate buildings or land for listing by the local authority as assets of community value. When buildings or land listed as assets of community value come up for sale or change ownership, a moratorium on the sale of up to six months can be invoked, providing local community groups with an opportunity to bid to buy the asset on the open market.
Importantly, there is no right for the community to buy the asset; nor is there a right of first refusal on a sale. Instead, the community is simply entitled to bid for the asset (and is given time, during the moratorium, to prepare a proposal for the asset). The owner of the asset can chose freely who to sell the asset to and for how much.
Although the provisions in LA 2011 relating to the community right to bid apply in principle to England and Wales, the Welsh government is yet to introduce the required commencement order to bring into force the relevant provisions of LA 2011 in Wales. The community right to bid therefore currently extends to England only.
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