Round 3 Prospectus for the Community Ownership Fund has been released

Date: 15.05.2023

The new round 3 prospectus for the Department for Levelling Up, Housing and Communities’ Community Ownership Fund is here.  

The £150 Million fund exists to help local communities across the UK to take control of assets, amenities or facilities that are at risk of closure – from parks to pubs, lidos to libraries. 

Groups can apply for up to £250k through the Community Ownership Fund to purchase or lease a local asset or help cover refurbishments (Up to £1M in exceptional cases). All funding provided through COF must be ‘matched’ 20% or more from alternative sources. This is a significant change from the 50% of matched funding that previously needed to be raised. 


When we talk about a community asset or space, we mean buildings or land which are used for the well-being or social interest of the local community. These include green spaces, libraries, cultural spaces, leisure facilities, community centres, pubs and more. 

Community ownership gives local people control over the buildings and spaces that have significance to them and that these spaces are used in ways that meet the priorities and needs of the local community. 


DTA Wales is working together with 9 other community support organisations as official delivery partners of the Community Ownership Fund support programme.  

Find out if the fund is right for your organisation, get help understanding eligibility and how to write a strong application for the fund by visiting the Community Ownership Fund support programme page.