The Community Right to Bid was introduced by the Government in the Localism Act 2011 and came into force in September 2012. The aim of the new right is to give community groups time to make realistic bids to buy land or buildings that are of importance to the local community when they come up for sale.
Under the Community Right to Bid, community groups are able to nominate non-residential buildings or land within their communities as 'assets of community value' which cannot be sold without the community group being given the opportunity to put together a bid to purchase the asset.
The Right does not give any preferential treatment to community groups in the sale of the asset; rather it gives them the time to prepare bids so that they have a realistic chance of purchasing the asset.
More information is available on the My Community website.