This Summer, the government will launch a new £150m fund to enable community groups to buy local assets, such as pubs or cultural venues, and run them as community-owned businesses.

Groups will be able to bid for up to £250,000 matched funding to help ensure that communities can support and continue benefiting from local facilities, community assets and amenities that are important to them

There is no set list of eligible assets, as importance is given to communities determining what matters most to them. As examples, projects could include community-owned sports clubs, sporting and leisure facilities, cinemas and theatres, music venues, museums, galleries, parks, pubs, post office buildings or shops.  

Projects should be focused on place-based assets or amenities, which are important to the local community, build connections between people and foster a sense of pride in the local area – but are at risk of being lost without community intervention. There will be an emphasis on ensuring the asset or amenity can be sustainable in community ownership.

The full bidding prospectus is due to be published by June 2021. 

Read more details here.