Communities now have the opportunity to identify a building or land which is important to their social well-being, and bid for it if it comes up for sale.

Across the city there are buildings and amenities that are important to the communities that use them. These could include, for example, a shop, a pub, or a library. The closure or sale of these places can sometimes damage communities. Under the Localism Act, voluntary and community organisations can nominate an asset to be included on a list of "assets of community value" held by the Council.

If the owner of a listed asset wants to sell it, they must tell the Council. The community will then be given a period of time to prepare and make a bid for the asset.