Generally it's been used to protect physical structures such as stadiums. It's also been used for post boxes, bus shelters, telephone boxes ect. Not sure if it could be used for a company or organisation but is well worth looking at.
the council could also do it themselves by placing a restriction on what the land can be used for. it won't help our situation much as nobody is suggesting that the Rioch is knocked down and turned into houses or anything like that. It would never be needed while the council retains the freehold but if they were ever to sell that they would be wise to put measures in place to make sure any future owner can't sell off the land for another use.
getting it made a community asset allows the Oxvox trust to be at the bidding table should the ground be put up for sale. It gets them 6 months to raise the finance if a sale is to be made. What it doesnt guarantee is that their bid will be successful.