Specialist Support for a Complex Community Acquisition
We recently acted for a Community Benefit Society in the purchase of a £600,000 property intended for long-term community use. The transaction was complex due to the property’s designation as an Asset of Community Value (ACV)—a status which brings strict legal requirements designed to protect properties important to local people.
Managing Legal and Financial Complexities
In addition to navigating the ACV process, the purchase involved a multi-source funding structure, including:
- A commercial loan
- A grant for community development
- A community share offer, enabling local residents to invest
Each funding stream required separate due diligence, regulatory compliance, and coordination with third-party stakeholders.
Ensuring a Strong Legal Foundation
Our team conducted detailed title checks, reviewed planning restrictions, and ensured the purchase met both legal and governance standards. We also advised on the appropriate ownership model to support the Society’s long-term goals.
Helping Communities Take Ownership
This successful acquisition highlights how expert legal guidance can unlock opportunities for community-led ownership.
If you represent a Community Benefit Society, Community Interest Company, or other not-for-profit group interested in acquiring property for public use, we can offer expert legal guidance tailored to your needs. From navigating ACV processes to structuring multi-source funding, our experienced team is here to help.
Please get in touch by completing our enquiry form, and our team would be delighted to assist you on your journey toward meaningful community ownership.
