This notice is to inform you that, on 27th September 2022, the Council received notification from The Friends Of St George's Park that they intend to bid for ownership of the community asset
Rainbow Children's Centre, Radford Avenue, Kidderminster, Worcestershire, DY10 2ES
The full moratorium period has now come into force and ends on 27th March 2023. During the moratorium period the owner may not dispose of the asset unless it is to a community group as defined in the Localism Act 2011 and the Assets of Community Value (England) Regulations 2012, this may or may not be The Friends Of St George's Park .
At the end of the moratorium period the owner can sell to whomever they choose and at whatever price. The owner is also at liberty to negotiate with a preferred buyer during the moratorium period: but the sale cannot be concluded during that period.
Protected Period
If after the six month moratorium period a community group has not successfully bought the property, a further 12 month protection period is triggered (in total an eighteen month period commencing on the day the Council received written notification of the owner's intention to dispose of the asset). During this protection period the asset may be sold by the owner on the open market without the risk of any further moratorium period being triggered. The protection period will end on 27th March 2024.
Dated: 29th September 2022
C. S. Newlands, LL.B. (Hons), Solicitor
Solicitor to the Council
Wyre Forest House, Finepoint Way, Kidderminster, Worcs. DY11 7WF