Reversing the decline of our high streets and town centres is integral to restoring civic pride and rebuilding local economies. The last decade has been marked by a persistent loss of local institutions which are at the heart of our communities, whether that be the local pub, shops, music venues, cinemas or leisure centres. These assets bring people together, provide leisure and entertainment and form the basis of social engagement – they are crucial to our way of life and happiness.
Unleashing Community Ownership aims to empower communities with the rights, funding and support they need to take community ownership to the next level. The first step is introducing a new Community Right to Buy – which would replace the less effective Community Right to Bid. A new Community Right to Buy would provide community groups with first refusal on listed assets of community value (ACVs) – giving community groups the opportunity to purchase ACVs without competition in an expanded time window. The new Community Right to Buy would ensure more assets come onto the market, by putting pressure on owners to use their assets more productively or sell them to communities.