Bidding for listed assets

A six week delay starts when an owner tells us of their intention to sell a listed asset, or enter into a lease of 25 years or over. This is for community groups and organisations to send expressions of interest to be considered as a potential bidder. Owners cannot sell assets during this six week period. If an expression of interest is received from a community group, the delay (known as a moratorium) will be extended to six months.

Owners can continue to market an asset but must not exchange contracts, other than with a community organisation, during this six months. The six month period is intended to give community groups or organisations time to prepare and send a bid to take on the asset.

If a community group or organisation has not successfully bought or leased the property after the six months the asset may be sold by the owner on the open market.

assets of community value enquiries

acv@n-somerset.gov.uk