What is an assest of community value?
A building or land is an asset of community value (ACV) if its main use furthers the social wellbeing or social interests of the local community.
Community groups can nominate a building or piece of land to become an asset and be added to our ACV register. If we accept a nomination and the current owner decides to sell the asset, we'll notify the community group and give them time to raise funds to buy it.
Who can nominate?
Any eligible voluntary and community organisation can make a nomination, and there is no fee.
We consider all submissions against a set of criteria, as well as consulting the owner. Approved assets stay on our register for five years. The owner also has the right to have the decision reviewed.
Selling assets of community value
If the owner of a listed asset decides to sell it, they need to inform us. We will then inform the local community group. Private sales are put hold for six weeks to give the community group an opportunity to decide if they want to make a bid.
If they do want to bid for the asset, private sales are put on hold for a further six months. This gives the community group time to raise funds to submit a bid. At the end of the six-month period, the owner is under no obligation to sell the asset to the nominating community group.
If the owner goes on to sell the asset within a year, the new owner can apply to have the property removed from the ACV register.
How to nominate
Eligible community group can submit nominations. They need show evidence that the building or land will benefit their community's social interests.
Read these useful guidance notes before you make your nomination:
You can nominate properties in Kensington and Chelsea using these forms:
Editable ACV Nomination Form [Word] (file size 45Kb) You will need Word installed on your computer to open this document.
PDF ACV Nomination Form [PDF] (file size 91Kb)
Editable ACV Intention to Bid Form [Word] (file size 45 Kb) You will need Word installed on your computer to open this document.
PDF ACV Intention to Bid Form [PDF] (file size 105Kb)
List of assets of community value
Find out more
if you need any more information about ACVs or need help with making an application, get in touch:
Call: 020 7361 3012
Assets of Community Value
Neighbourhood Planning Team
Planning and Borough Development
Royal Borough of Kensington and Chelsea