Community Right to Buy Fund announced by Secretary of State for Housing, Communities and Local Government

Steve Reed, Secretary of State for Housing, Communities and Local Government, has announced a £61 million Community Right to Buy Fund today (16 June).

Co-operatives UK, the UK's membership body for co-operatives, has welcomed the move, which includes around £51 million to help communities buy assets and around £10 million for capacity support.

The funding is a major step forward, following calls from Co-operatives UK and partners for finance and capacity-building support to sit alongside the new Community Right to Buy, which officially became law in 2026, through the English Devolution and Community Empowerment Act.

The new rules give local people first right of refusal when valued community assets, such as shops, pubs, community centres and other local spaces – at a fair market price – are put up for sale.

James Wright, Policy and Development Lead at Co-operatives UK, said: "Co-operatives are a key part of the community ownership landscape. It’s essential that the financial support works with the grain of co-operative finance, not least community shares. 

"There is a strong case for some of the Community Right to Buy Fund being invested as match-equity through the Community Shares Booster Fund, so that some public money can earn a return and be recycled in community ownership projects for generations to come.

"Development support must help communities explore and adopt co-operative models where appropriate. We are proposing that the Co-operative Development Unit. under the Pride in Place Strategy, includes a £7.2m programme for co-operative development, as part of a wider package accompanying the Community Right to Buy. 

Co-operatives UK now aims to work with the Ministry of Housing, Communities and local government to ensure the Community Right to Buy, the new fund and wider co-operative development support, work together effectively for communities.