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Development assets?

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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 We analyse the impact of land and buildings being listed as ACVs on development schemes, as illustrated by three recent cases.

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This article was first published in Property Law Journal (August 2018) and is also available at www.lawjournals.co.uk