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The Hurricane Room in Highams Park will close on August 24 after the lease was purchased by the freehold owner
An established snooker club of 25 years is set to close after the lease was sold on for redevelopment.
The owner of the Hurricane Room, also known as The Regal Club in Beech Hall Road, Highams Park, has said he is "devastated" by the recent news.
Total Security Services (TSS) purchased the former cinema and adjacent restaurant Shelz in 2013 with the aim of turning the derelict buildings into the company's headquarters.
Despite owning the freehold to the locally listed site, leaseholders Regal London Ltd held a 15-year lease until 2021, and the franchise was bought by Adrian Bullock in 2011.
The lease has now been purchased by TSS Managing Director Ricky Gardezi and Mr Bullock's agreement with Regal London Ltd has been terminated.
For more on this story see next week's Waltham Forest Guardian and Chingford Guardian.