The fight to save Dollis Hill House looks to be over after the organisation tasked with restoring it backed out of the scheme.
Charity Training for Life (TFL) had been working on plans to turn the derelict Grade II listed villa into a restaurant that provided training for youngsters.
But the project was dealt a massive blow a fortnight ago when the Mayor of London announced he would no longer be pumping a previously promised £2million into the redevelopment.
With no back-up funding stream in place, TFL today announced that it has been left with no other choice but to pull the plug.
The charity's chief executive, Gordon D'Silva said: "As a charity we can no longer put resources into a scheme where there is no clear source to address this shortfall.
"We have worked hard with the council, the Dollis Hill House Trust, the Heritage Lottery Fund and English Heritage to make a success of this project and, in good faith, have spent a lot of our own resources in doing this.
"We understand and accept that in the current tight economic climate the Mayor is faced with new challenges and therefore has to review his priorities.
"Regrettably this has resulted in a serious set back for the project that we entered into in the understanding that this funding would be forthcoming."
The council will make a decision on how to move forward on the house at a meeting on December 15.