How to list something as an Asset of Community Value – and give your community the right to bid for it if it comes up for sale.

Because of COVID-19, many of the buildings, places, spaces, local businesses, assets and services we love may be under threat. The good news is that local citizens in BANES have the legal right to protect them by listing them as “Assets of Community Value”. This buys time to mount a community takeover in the event of a sale. 

We’ve put together a guide to help you work with other local people to save the assets you love in BANES. If there’s a pub, shop, civic building, green space, sports facility, cinema, theatre, cultural venue that you want to protect, follow these steps (click for further details under each): 

Step 1: Find another 20 people who care about it and form a “Friends Of” group.

Step 2: Share your ideas about why you think it furthers the social wellbeing and interests of the local community.

Step 3: Get the land boundary and ownership details

Step 4: Gather evidence that it furthers the social well being and interests of the local community.

Step 5: Apply to nominate it as an asset as of community value

Samples of successful nominations in BANES

Please find links below to previous successful nominations.

(It may also be worth looking at this rejected nomination to avoid any pitfalls).

Next Steps: If your nomination is successful 

Congratulations! You’ve taken the first step towards securing the future of your community asset. 

For the next steps, please refer to MyCommunity’s step-by-step guide to getting ready to bid and managing the asset. 

Community Shares: It’s also worth learning more about community shares, which can be an excellent way of financing the community buyout of an asset.


Thanks to Dave Boyle of the Community Shares Company for his input to this guide.