In his budget, the Chancellor formally announced a Community Ownership Fund will be created, with an initial £150 million budget which is already being welcomed by groups who hope to be able to access it to revive neglected local buildings.

With several buildings in Radstock seemingly in need of some care, this new fund may cause some interest.

As part of the plans, sports clubs, theatres, music venues and post office buildings can be aided by community groups – who will be given up to £250,000 to support spaces in their area through matched funding.

The fund is set to open this summer and last for four years.

The Chancellor Rishi Sunak said: "This fund will help to ensure vital local institutions aren't lost to those who treasure them most."

It has already been welcomed by a group over in Shepton Mallet, the Make the Sunshine Community Interest Company (CIC) which aims to bring vacant buildings are brought back to life, post-Covid.

Louise Lappin-Cook, from Make the Sunshine, told Shepton Mallet Nub News: "The announcement of the community ownership fund is very welcome indeed.

"Hopefully this will offer increased opportunities for local communities to play a more active role in working together to transform high streets, re-purpose vacant premises and create local buildings that are genuinely community owned and motivated - something that feels especially important post-Covid-19.

"It would be wonderful to think that some of Shepton Mallet's beautiful vacant and under-used buildings could be put to community purpose and safeguarded for future generations."

The government has said the Community Ownership Fund will enable the physical regeneration of unused buildings and retraining services within communities, with revenue funding [provided].

You need a business model to sustain a building, to check the feasibility of it and then to keep investing in an underlying business. Everything will be angled on locally levelling up.

While the overall figure announced for investment is national and will undoubtedly be spread across the country, it does open the door for some schemes and, as pledged in the Conservatives' 2019 manifesto, could become a cornerstone of local community management.