The Bristol Community Asset Transfer is a city-wide planning instrument that provides leases for 150 publicly-owned properties in Bristol, UK to various voluntary and community organizations (i.e. "third sector organizations") at a reduced or no cost. The instrument is based on the idea that local people know their area the best, and can manage leased properties at a better value for money spent compared to developers. To receive a lease, voluntary and community organisations must demonstrate that their plans for properties generate social, economic or environmental benefits. The asset transfer can take the form of a management agreement, license to occupy, short least or long lease. The price of the asset transfer depends on positive impacts generated from organisations' plans. This urban planning instrument is part of broader English efforts to empower communities through community assets, as mentioned in the 2006 white paper "Strong and Prosperous Communities" and the later "Making Assets Work" report, and municipal efforts to improve community well-being, as mandated in the Local Government Act of 2000 and the Localism Act 2011.