Listed Assets of Community Value stay on your local authority’s list for up to five years.
Pubs that are listed as ACVs require a planning application to change their use or demolish them (the same protection applies pending a decision from the point when the pub is nominated for ACV status). If the pub is listed as an ACV, these requirements will be effective for the duration of the listing..
During this period, if the owner of the listed asset decides to sell they must inform the local authority of their intention to do so. The community then have up to six weeks to express an interest in becoming potential bidders to buy the asset.
Once an expression of interest has been received, a further four and a half month pause in the sale process is triggered. This gives potential bidders a total of six months to raise the funds required to purchase the asset. At the end of the period, the owner may sell it to whoever and at whatever price they choose.
Our step-by-step guide takes you through the process from nominating Assets of Community Value to bidding for them with the Community Right to Bid.