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Community Asset Transfer & Assets of Community Value
This legal process handles the Community Asset Transfer of ownership of a building to a neighbourhood or community-led organization in the locality. These buildings or land are generally under utilised or empty, but have significant potential community benefit if owned and managed correctly.
Local Authorities are increasingly seeing the benefit of transferring ownership to a community-led organization, which breathes new life into these buildings and they become a community anchor in the neighbourhood. Typically they are transferred at below market value and quite often no consideration is payable, but achieves long-term social, economic and environmental benefits in the locality.
The Community Organisation has to be properly formed and constituted, such as a social enterprise, Community Interest Company or Trust with increasing awareness of the benefit of localism and local neighbourhood groups owning and managing these community assets, there is an established Community Right to Bid scheme when Assets of Community Value can be bid for and transferred.
The processes surrounding community asset transfers, typically from the local authority can be complicated and we understand the importance of our clients getting the best advice they can.
We have extensive knowledge and expertise in this area, having successfully completed a substantial number of Community Asset Transfers and understand Community Asset Transfer legislation.
Recently buildings have included • Village hall • Community centre within the grounds of a school • Substantial civic building in a market town • Former museum • Land to be used for social housing • Youth Centre
Ridley & Hall has developed a relationship with key third sector organisations and social enterprises and is well placed to assist in the transfer of community assets.
We believe our charges to be very competitive and transparent. They are clearly set out up front so that you can budget accordingly. You will receive a full breakdown of the costs and process at the outset to avoid any unnecessary surprises. You will be kept up to date throughout.
We are easily contactable with face to face meetings when needed and we will progress to completion at the earliest possible time.
What our clients say:
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