Implications of Inclusion on the List
Once an asset is included on the list of assets of community value, some restrictions apply to its future sale. The owner must notify the Council if they wish to sell and this triggers a six week period during which certain community groups have an opportunity to contact the Council to register their interest in making a bid to buy the asset.
If such an expression of interest is received the asset cannot be sold for six months, giving community groups the time to develop a proposal and raise the money needed to buy the asset.
However, the owner is not obliged to sell to a community group at the end of the six months period and community groups are not under any obligation to bid or purchase the asset.