What is Community Right to Bid?

 Part 5 Chapter 3 of the Localism Act (2011) details regulations for Asset of Community Value and sets out the Community Right to Bid.

The Right came into force on 21 September 2012 and its purpose is to give communities a right to identify a property (land or building) that is believed to be of value to their social interests or social wellbeing and gives them a fair chance to make a bid to buy the property  (land or building) on the open market if the property owner decides to sell. Currently only eligible community groups, local parish councils or local neighbourhood planning forums and charities can nominate.