Funding is available for charities and community groups across the UK who want to take ownership of, and save, local assets such as pubs, sports clubs, music venues, historic buildings, pubs, theatres and parks.

The UK Government's £150 million Community Ownership Fund, which will run until 2024/25, is currently accepting Expressions of Interest.

Applications will be accepted from voluntary and community organisations from all parts of the United Kingdom who have a viable plan for taking ownership of a community asset at risk and running it sustainably for community benefit.

Groups can bid for up to £250,000 match funding or in exceptional cases up to £1 million for larger sporting assets at risk of loss.

To be eligible for investment from the Fund, the terms of community ownership must be either the ownership of the freehold or a long-term leasehold of at least 15 years with reasonable break clauses. Assets with leaseholds of 25 years and no early break clauses are preferred as applicants will find it easier to demonstrate the long-term sustainability of the asset in community hands.

The fund has moved to a two-stage application process with an initial Expression of Interest stage to determine eligibility and bid readiness followed by a detailed application stage which can be made to any of the three bidding that will be available this year. The first application window is expected o close on 19 August 2022. There will be two more application windows before March 2023.

Expressions of Interest are currently being accepted.

 

How To Apply

It is expected that there will be at least eight bidding rounds in total as the Community Ownership Fund runs until 2024/25.

An updated prospectus and assessment criteria guidance for Round 2 are available on the GOV.UK website.

Expressions of Interest for round 2 will open on 10 June 2022 and the link will be available on the GOV.UK website.

Please note some of the changes from Round 1:

• A two-stage application process is being introduced.
  • Stage one is to complete a brief Expression of Interest form. Applicants will be able to check if their project is likely to be eligible and receive quick feedback on their proposals before submitting a full application. The EOI form can be submitted at any time as there are no deadlines, enabling applicants to start at a time that is suitable to them.
  • Stage two will see applicants with eligible projects invited to submit a full application.
• There will now be three bidding windows per year, meaning applicants can submit a full application once their EOI has been approved, at a time that is right for their project.
• Introduction of a two-application limit per project.
• Clarifying eligibility requirements for funding sporting assets and public sector assets.
• Extension of timeline for completing projects from 6 months to 12 months from the date indicated on the offer letter.
• Allowing the approval of bids for assets with at least 15-year leases and reasonable break clauses, although 25-year leases are still preferable.
• Removing the requirements for projects to have had a community use in the last five years, although assets must still have evidence of some past community use.
• Providing more information to successful applicants on what they can expect after receiving an offer letter.

The Department for Levelling Up, Housing and Communities will be hosting one more webinar on 16 June 2022 (11-12am). Information on attending can be found on the GOV.UK website. To register an interest in attending, groups need to fill out a form.

Application documents are available from the GOV.UK website.