MPC(22)102 Assets of Community Value

Agendas & PapersFull Council Uploaded on November 9, 2022



An Asset of Community Value status (ACV) gives communities the right to identify a building or land that they believe is of importance to their community’s social well-being.  The aim is that, if the asset comes up for sale, then they will be given a fair chance to make a bid to buy it on the open market.

If the nominated asset meets the definition of an ACV, the local authority (East Suffolk Council) will list it.  The owner will have a right to an internal review by ESC and a right to appeal against the result should they feel ACV status is inappropriate.

If registered, nothing further will happen unless and until the owner decides to dispose of the asset either through a freehold sale or by assignment of a lease granted for at least 25 years.  If the owner of a property covered by an AVC wants to sell it, they must contact ESC who will notify the community group who has registered an interest.  The community group will then have the opportunity to register its interest as a potential bidder, triggering a six month moratorium period during which the owner can only sell the asset if it is to a community interest group.  After 6 months, the owners can sell to whomever they choose.

During this 6 month period, the community group will have time available to consider any options there might be to buy or get an investor to buy the ACV with a view to retaining it for the benefit of the village.

For Melton, I think McColls as the village shop and post office is important to the social well-being of many residents.  Many use the post office for their local banking, especially since so many banks have closed in the area.  Additionally, the local shop is used by a number of residents.

As a result, I believe we should try to get McColls registered as an ACV.


Cllr Gradwell

7th November 2022