MINEHEAD's old hospital has become the latest building to be nominated as a community asset, effectively giving local people first refusal if it is put up for sale.

Members of Minehead Development Trust, a charity set up to try and buy the hospital and convert it into a community facility, said a vital regeneration opportunity would be lost forever if the hospital was not protected and sold on the open market to a developer.

Residents in Shurton and Monksilver have already enlisted the Localism Act 2011 to have their local pubs, the Shurton Inn and the Notley Arms, listed as community assets.

Under the act, listed assets cannot be sold on the open market unless the community has had the chance to buy it first - or, in the case of a business, the premises must be sold as a going concern.

The aim is to prevent local pubs and businesses from being turned into housing.

On Wednesday, members of West Somerset Council's cabinet agreed to add Minehead Old Hospital to its list of community assets.

Jenny Lennon-Wood of the development trust said the grade II listed building had been vacant since February 2011.

"This building is in the heart of the town with links to the Regal Theatre, the town council, tourist information centre, the seafront, Blenheim Gardens and the railway," she said.

"It is a unique focal point for a community hub."

The trust is keen to use the old hospital as a base for a new library, museum, visitor information centre and meeting space.

Shops, restaurants and a cafe could also be included within the site, while the meeting rooms could be used to host exhibitions, concerts and performances.

"This is exactly what this legislation is all about and it's not often we actually get legislation that is relevant and helpful to the local community," said cabinet member Cllr Dave Westcott.

"I'm delighted this has been put forward."

Cllr Paul Grierson said Minehead Town Council fully supported the application.

Under the legislation, any parish council or community group with more than 21 members can nominate land or buildings as "assets of community value".

Such assets can include pubs, village halls, shops and recreation grounds but not properties deemed to be "wholly residential".

If a building or land is accepted by the local authority as a community asset, nothing happens until the owners decide to sell.

Unless an exemption applies, such as the land or building being sold as a going concern, the owner must give first refusal to the nominators.

The parish council or group then has six weeks to decide whether to submit a bid to try and buy the asset for the community.

If no bid is made, the owner is free to sell the asset on the open market.

However, if a bid is received, a six month moratorium is put on the sale to give the community group or parish council time to try and raise the necessary funds to purchase the asset.

After the six months has lapsed and if no offer to buy has been made, the owner is then able to market the asset on the open market - but only for a limited time of 12 months.

If no buyer is found within that time, the whole process begins again.

Cabinet members were told the hospital's owners had the right to appeal against its listing as a community asset through the authority's scrutiny committee.