The Community Ownership Fund is a £150 million fund over 4 years to support community groups across England, Wales, Scotland and Northern Ireland to take ownership of assets which are at risk of being lost to the community. The first bidding round opened on 15 July 2021 and closed on 13 August 2021. This pilot round was launched to test community appetite and trial the policies and processes developed. It was particularly focused at communities who were ready to take over assets.

The Community Ownership Fund will be opening for Expression of Interest applications on 10 June ahead of the application window opening later that month. The full application will be submitted during fixed windows each year. Key dates for the full application bidding windows in 2022/23 are as follows:

• bidding window 1 – June – 19 August 2022

There will be two more bidding windows before March 2023. Exact dates will be announced in due course. Each bidding window will close at 12pm on its respective closing date. Your full applications must be submitted before 12pm on 19 August 2022 if you are applying in the first bidding window.

The Community Ownership Fund has four strategic objectives:

• to provide targeted investment for communities to save and sustain community assets that would otherwise be lost to community use
• to strengthen capacity and capability in communities, supporting them to shape their places and develop sustainable community businesses
• to empower communities in left behind places to level up
• to strengthen direct links between places across the UK and the UK government

You can apply for a blend of capital funding and revenue funding.

Capital funding is used to purchase or lease the asset and pay for refurbishment costs.

Up to £250,000 match funded capital will be available for all eligible asset types.

In exceptional cases, bidders will be able to make the case for up to £1 million match funding to help establish a community-owned sports club or help buy a sports club/asset at risk of being lost without community intervention.

Eligible sources of match funding will include funding from:

• public bodies
• devolved administrations
• charitable trusts
• national lottery funders
• community shares
• social investors
• other lenders

 To find out more click here