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Community right to bid

What is community right to bid?

Community right to bid is also known as assets of community value. Local groups are able to nominate a building or other land for listing as an 'asset of community value'. Wyre Council is required to maintain lists of successful and unsuccessful nominations.

If any land/building that the council lists as an asset of community value comes up for sale (freehold or a lease of at least 25 years), then community interest groups will have six weeks in which to make a written request to the council to be treated as a potential bidder. This request allows them to delay the sale by up to six months, providing additional time to raise funds and put together a bid to buy the asset.

These rights do not restrict the sale price or who the owner of a listed asset can sell their property to and they do not give community organisations a right of first refusal.