A community group is applying to run their local library after Lambeth council closed it in March.
The group say their plans will allow the 100 year old Carnegie Library in Herne Hill to reopen and make enough money to cover most of the running costs.
A Lambeth council spokesman said: “There are certainly no plans to sell Carnegie Library off for flats. Lambeth Council has committed to keeping all our libraries open, despite the deep cuts to our budget.
“Carnegie was identified as a building that was not being used to its full potential and there is certainly scope to make the building, including a library provision on site, self-sustainable in partnership, ultimately, with a community group through an asset transfer. We currently have two interested parties.
“In the more immediate term, a partnership with the council’s leisure provider GLL, will enable us to re-open the building at the earliest opportunity and keep the ground and first floors for community use, including the new Neighbourhood library.”