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Listing an Asset

Listing an Asset of Community Value
Who is eligible to nominate an asset for inclusion in the list of assets of community value?
Groups such as parish councils, local voluntary and community organisations will be able to nominate local land or buildings to be included in the list of community assets maintained by Walsall Council.
Nominations may be submitted by the following:
Town and Parish councils
Unincorporated bodies with at least 21 individual members and which does not distribute any surplus it makes to its members
Charities
Companies limited by guarantee which do not distribute any surplus profits they make to their members
Industrial and provident societies which do not distribute any surplus they make to their members
Community interest companies
Bodies designated as neighbourhood forums under the Town and Country Planning Act
The above groups will need to demonstrate a local connection.  To achieve this, groups must carry on activities wholly or partly concerned with the local area or neighbouring local authority area. For unincorporated bodies, there must be a membership of at least 21 from the local area, evidenced by the electoral register.
What types of asset are eligible for listing?
Any land or building considered by a community group to further the social wellbeing or social interests of the local community may be nominated.  The Local Authority cannot recommend or suggest buildings or facilities for nomination.  However, various types of building or land may be nominated, such as children's centres and nurseries, parks and open spaces, sports centres, cinemas, pubs, or perhaps village shops etc.
What kind of buildings/land cannot be considered as assets of community value?
Land or property where community use is not the main use.
Land attached to residential property (although the regulations set out certain exceptions for shops and pubs)
Land covered by Caravan Sites
Land used by public utilities, defined as operational land.
Please note the Regulations should be consulted for the full list of exemptions and related definitions.
How is ‘community value’ defined?
Community Value is defined as follows:
The principle use of the asset currently, or in the recent past which furthers the social wellbeing or cultural recreational or sporting interests of the local community and
This use will continue to further the social wellbeing or interests of the local community.
Where the asset does not currently demonstrate ‘community value’ (as above). It may still be nominated where it is possible to demonstrate that the asset’s main use did further the social wellbeing or cultural, recreational or sporting interests of the local community in the recent past and where it is realistic to think  that it will do so again in the next five years.