After a long wait Chedworth Parish Council heard the good news today (14th November 2024) that The Seven Tuns has been registered as an Asset of Community Value (an ACV).
What does an Asset of Community Value mean?
An Asset of Community Value (ACV) is a building or piece of land that is important to a local community. It is protected from development under the Localism Act 2011. This means that if an ACV is put up for sale, the local community has a chance to buy it before anyone else.
To be listed as an ACV, a building or piece of land must meet the following criteria:
- It must be used to further the social wellbeing or interests of the local community. This could include cultural, recreational, or sporting interests.
- It must be capable of continuing to be used for the benefit of the community in the future.
ACVs can be nominated by voluntary and community organisations, parish councils, local neighbourhood planning forums, and charities. Once an ACV is listed, the owner must inform the local authority if they wish to sell it. The community then has six months to raise the money to buy the asset.
ACVs are an important way to protect community assets and ensure that they are used for the benefit of the local community. They can help to prevent the loss of valuable community facilities, such as pubs, shops, and community centres.
What is happening now?
Two local residents had reached a verbal agreement with The Wellington Pub Company (WPC) to lease the pub long-term. This lease would have allowed them to invest in the pub and turn it into a sustainable business. Unfortunately, despite this agreement, WPC has not yet provided a written lease. We hope that by directly contacting WPC’s owners, we can push this forward. Stay tuned for updates!