THE AUCTION OF THE COVENTRY CANAL BASIN was to take place.
But halted by Canal & River Trust after it made an application to designate it as an asset of community value (ACV).
Auction paused
The sale would include the many buildings together with a car park and had been due to be disposed off by auction on the 19th March, but was paused it is told, as its future should reflect the creativity and community that already thrives there.
An ACV is a building or land that is used to further the interests of a local community.
The application reflected on the deep cultural and social importance of the area, it is told.
There is a call on audiences and supporters to continue attending gigs and events, as this will demonstrate the strength of the community around the basin.
Decision to remove
Canal & River Trust told that it took the decision to remove the lot from auction after an application was made to designate the basin as an asset of community value.
But this process could take up to six months, so the auction has been halted whilst that process takes place.