What happens when an asset is listed?
We will add the asset to our list of community assets of community value.
The owner of the property must then advise us when they intend to sell the property and we will inform the nominator. We will then inform the public. Any community interest group, even one not involved in the original nomination, has the right to bid on an asset (a community interest group is defined as a charity or community interest company or non-profit distributing industrial and provident society or company limited by guarantee).
If a community interest group notifies us within six weeks that it wishes to bid, it will have up to six months in which to prepare its case.
If no community interest group notifies the council within six weeks that it wishes to bid, the owner is free to sell their property as they see fit.
At the end of the six month period if the community interest group is not in a position to buy the asset, the owner is free to sell the asset to whoever they wish and at any price.