The Localism Act 2011 introduced the Community Right to Bid (the Right), a new right for local people to nominate buildings or pieces of land that they believe contribute to the social interests or wellbeing of their local communities to be listed on a register of Assets of Community Value (ACVs), managed by the local authority. The Right applied to public and private property, although there are a number of exceptions under the legislation, including private residences. Where land is listed as an ACV, if an owner of a listed asset subsequently wishes to dispose of it, there will be a period of time during which the asset cannot be sold, or a qualifying lease granted or assigned (a qualifying lease is a lease originally granted for a 25-year term). This period is known as a moratorium and would ultimately be for a period of six months. The moratorium is intended to allow community groups the time to develop a proposal and raise the required capital to bid for the asset when it comes onto the open market at the end of that period. The owner is under no obligation to accept a bid from the community group and can sell the property to whomever they wish once the six-month moratorium is over.

A valid nomination had been received to list The Bull Public House as an Asset of Community Value and this report asked the Committee to make a decision on this nomination.

Cllr Poppy Moved and Cllr Hones SECONDED the recommendations in the report.

Following a full discussion a vote was taken and Members

RESOLVED UNANIMOUSLY to:

List the land known as The Bull Public House, as indicated on the site map in Appendix B of the report, as an Asset of Community Value.

Reasons for Recommendation

The nomination has passed the Council’s due diligence tests including the submission of evidence that the group is eligible to be nominated. The nomination passes the first statutory test as it clearly furthers the social interests and wellbeing of the local community.

There is a realistic chance that the asset will continue to provide the activities for which it has been nominated. The nomination therefore passes the second statutory tests.

The Council could decide not to list The Bracken Wood Greens as an Asset of Community Value, but this would mean that it was not fulfilling its statutory duty under the Localism Act 2011.