Asset of community value
In England, an asset of community value (ACV) is land or property of importance to a local community which is subject to additional protection from development under the Localism Act 2011. Voluntary and community organisations can nominate an asset to be included on their local authority's register of asset of community value.
The owner of an asset of community value must inform the local authority if they wish to sell the asset. If a group wants to buy the asset, they can trigger a moratorium for six months, to give them a chance to raise the money to purchase the asset. The owner does not have to sell to a community group. The asset of community value listing only improves the chances of community groups being able to purchase by providing more time to raise funds. It does not require the owner to sell at a discount.
Categories of listing
The largest group of listings have been for pubs, with over 100 listed by August 2013 and 600 by March 2015. Sport and leisure facilities include Old Trafford football stadium, The Valley and the South Bank Undercroft; sports clubs; parks including Myddleton Square in Islington. Blackpool Football Stadium, Bloomfield Road Blackpool.
List of assets of community value