A landowner wishing to sell an asset that is on the list of assets of community value must tell the Royal Borough. This will trigger the following actions:

1. The Royal Borough of Greenwich will publicise locally that there is a proposed disposal of an asset.
2. The Royal Borough of Greenwich will inform the group or groups who have nominated the site of the proposed disposal.
3. If a voluntary or community group wants to buy the asset, it has six weeks to respond. If a group does want to put a bid together to buy the site they will be given six months to do so, during which time the property cannot be sold.
4. After the six-month period, the landowner can sell the property to anyone, or decide not to proceed with the sale.

Note that being listed as an asset of community value:

• does not oblige the landowner to sell the asset to a community group
• does oblige the landowner to give community organisations an opportunity to prepare a bid to buy the asset.

Change of use and planning applications

The owner of any drinking establishment which is either nominated or included within the list of Assets of Community Value will be required by the Town and Country Planning (General Permitted Development) (Amendment) Order 2015 to obtain planning permission to change its use or demolish the building, from the point of nomination.

This will remain the case until the drinking establishment is placed on the list of unsuccessful nominations, or if it is successfully nominated as an Asset of Community Value, for five years from the point of listing.