The Localism Act 2011 introduced a number of community rights, including provisions to help communities safeguard land and buildings serving a community purpose. The asset of community value, or ACV, regime allows local communities to identify land or buildings that serve a purpose to further the social wellbeing or social interests of the local community, and provide the community with an opportunity to bid for the land or building when the owner decides to sell – known as the community right to bid. Lucy McDonnell analyses the impact of land and buildings being listed as ACVs on development schemes, as illustrated by three recent cases
This article was first published in Property Law Journal (September 2018) and is also available at www.lawjournals.co.uk.
Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries. www.dentons.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
