09 March 2011 #Real Estate
On 8 February the Government issued a press release announcing that local communities will have the ability to rent, sell or share community owned property purchased with monies received from Central Government, such as council buildings, shops and business parks.
The Government is abolishing claw back rights which prevented community and voluntary groups from changing the use of community land or buildings that were funded by historic government grants. The restrictions meant that original grant funding was clawed back if the property was sold or its original purpose changed - even if the original government scheme had long since expired.
In addition to the announcement of the abolition of claw back, the Government launched a consultation on 4 February in respect of the implementation of the Localism Bill 2010/2011. The Bill proposed that communities have the right to buy local property with community value. The Government proposes that:
At a time when local community and voluntary groups are under severe strain it is hoped that these measures will provide such groups with more freedom to use their properties to adapt to and meet the changing needs of its neighbourhood.