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South Lakeland District Council Community Right to Bid - Asset of Community Value The Farmers Arms, Lowick, Ulverston LA12 8DT Notification of intent of sale

Notice ID: BRA1769108

Notice effective from
2nd July 2020 to 1st August 2020

South Lakeland District Council Community Right to Bid - Asset of Community Value The Farmers Arms, Lowick, Ulverston LA12 8DT Notification of intent of sale
On 19th June 2020 South Lakeland District Council ("the Council'') received notification under s95(2) of the Localism Act 2011 ("the Act") from DLA Piper UK LLP, on behalf of Red Star Pubs Limited ("the Owner") that they intend to dispose of the listed community asset known as The Farmers Arms, Lowick ("the Asset").
Moratorium Periods (delay of sale)
This notification has triggered the interim moratorium period under s95 of the Act which commenced on 19th June 2020 and ends at 5pm on 30th July 2020. Community interest groups may now notify the Council of their intention to be treated as a potential bidder for the Asset before the end of the interim moratorium period.
Requests should therefore be made in writing to the Council before 5pm on 30th July 2020 marked for the attention of Linda Fisher, Legal, Governance and Democracy Lead Specialist at the address below. If no community interest groups notify the Council that they wish to be considered as a potential bidder during the interim moratorium period then the Owner may continue with the sale of the Asset.
If within the interim moratorium period, a community interest group states they wish to be considered as a potential bidder, they will be given until 5pm on 18th December 2020 to put together a viable bid. This is known as the full moratorium period under s95 of the Act.
If a viable bid is submitted before the end of the full moratorium period the Owner can, after the expiry of the full moratorium period (subject to their own regulatory requirements), sell to whoever they choose and at whatever price.
The Owner is also at liberty to negotiate with a preferred buyer during the full moratorium period, but the sale cannot be concluded during that period.
Linda Fisher
Legal, Governance and Democracy Lead Specialist South Lakeland District Council South Lakeland House, Lowther Street Kendal, Cumbria LA9 4DQ

Attachments

BRA1769108.pdf Download

South Lakeland District Council

South Lakeland House , Lowther Street , Kendal , LA9 4UF

http://www.southlakeland.gov.uk/ 0845 050 4434

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