If you are considering taking on an asset (property of some kind) it is essential to be sure that an asset is indeed necessary for the delivery of your project objectives. What unique opportunities will owning (or leasing) an asset bring to the delivery of your project? And what benefits might it bring for your group and community more widely?
Your group may decide early on that the project does not require ongoing use of an asset, or they do not want to commit to the long-term process of developing and managing an asset. For example, if your project requires space for community activities of some kind - such as youth or arts activities – could these be delivered by hiring existing facilities in the community? Or if your project is mainly about making information more available to local people, is an information point in a physical property the most cost effective way to achieve this? Might a website or use of social media be more cost effective?
On the other hand, your group may decide that not only is control of an asset essential to deliver the project, but taking on an asset will provide opportunities for the wider community, including other local groups. Or that it will help you generate income that makes your organisation more sustainable and can be invested in further projects.
Once your group is sure it wants to take on an asset, it’s worth considering whether the group is ready. There are some overarching activities that are required and issues that will emerge throughout the process of taking on and developing an asset. These are worth considering as starting points because they are either applicable to all of the main activities you will carry out (like knowing how to work with professional advisors) or they need to be planned for at the start of the process in order for it to succeed at all (like having clear project objectives).
Some are about adopting certain attitudes, for example towards partnership working or staying focused on the need for the asset to be viable and sustainable. These issues need to be kept in the forefront of everyone’s minds as they work together to make the project a success.
Use the menu on the left to navigate to information on the different issues you will need to consider.