The proposal to move Blackheath Bluecoat school to a new building at Greenwich Peninsula has been stopped by the Government.
The move to a new school building off Millennium Way was put forward after an earlier proposal to move the John Roan School was dropped.
At the time of the announcement in February this year, executive headteacher Jeffrey Risbridger welcomed the the "opportunity to move to what promises to be a remarkable building".
Blackheath Bluecoat is just one of hundreds of schools around the country that have been affected by the new coalition government's review of the the Building Schools for the Future (BSF) programme.
Secretary of State for Education, Michael Gove, told the House of Commons this week that "faced with the desperate mess left by the last Administration, this Government have had to prioritise, and our first priority is raising the attainment of the poorest by investing in great teaching".
See also: Blackheath Bluecoat stays put - 853blog