CMI was commissioned by the Big Lottery Fund to undertake a longitudinal evaluation of the Community Asset Transfer Programme. The evaluation accompanies the programme over eight years in order to capture what outcomes and impacts are achieved through the 16 funded projects. This is the third of four evaluation stages. This evaluation report is aimed at the wider Community Asset Transfer community in Wales where there has been strong interest in the Community Asset Transfer agenda in recent years. The 16 original CAT 1 projects are an important showcase for what can be achieved in different settings and using different approaches.