Asset transfer can strengthen your organisation’s community ties and its ability to raise money. Because the main focus is likely to be a community based initiative or sustaining economic regeneration, there may be access to funding to refurbish the building or to support staff training and development.

Whether your local council supports asset transfer depends on its property portfolio, its attitude to the sector’s role in the community, and the strength of your organisation’s case. But it is the Government’s stated policy for councils to make use of under used or derelict land and buildings, which often carry high maintenance costs.

Owning an asset can provide security on a long-term basis because you can use it to generate income or to borrow against, using the building as security. Securing a local asset for community use may be highly desirable – once an asset has been lost to private ownership it is usually lost forever.

The Government wants more council assets transferred – either by lease or sale – to voluntary and community organisations as part of a drive to improve communities and enhance local service delivery. Transferring assets can be part of local plans to improve local neighbourhoods and provide resources in deprived communities.