Credit for this photo goes to borrowdalehouse.co.uk "Blencathra from Catbells"
Simply put, a community asset is an area of land or a building owned by a community organisation. This was implemented under the Localism Act in 2011 - community groups or parish councils can recommend "assets" to the community list held by the council. In this case, because it is already owned by a private individual, this Act gives the community group up to 6 months to raise the money to make a higher bid than the one currently accepted - but by no means does this mean that they will raise the necessary amount of money, nor does it guarantee them the sale.
However, bear in mind that the successful bid this week was said to be "significantly" higher than the alternative bids, and the asking price - the tax that is being paid off by the sale was £9million, and any bid would need to be as close to this as possible in order to be successful - Friends of Blencathra would have to raise a significant amount of money in order to buy the mountain.
To find out more about the Localism Act, click here!
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