The Co-op is to sell its Great Dover Street convenience store to McColl's.
Now the shop – which incorporates a post office – is one of 298 outlets the Co-op is selling to McColl's in a £117 million deal.
The Great Dover Street store is one of just two London shops to be sold by the Co-op.
If the deal is approved by the Competition & Markets Authority and McColl's shareholders, the stores will change hands in November.
Steve Murrells, CEO of Co-op Food, said: "The Co-op Food business continues to move forward with a clear momentum and purpose to deliver a compelling and convenient shopping experience for our millions of customers and members.
"Today's announcement is completely in line with our strategy, as these stores did not allow us to provide a sufficiently compelling own-brand offer for our members going forwards.
"The proceeds will be re-invested to drive sustainable growth for our members and I'm delighted that all 3,808 colleagues will transfer to McColl's on the same terms and conditions."
For the latest local news and events direct to your inbox every Monday, you need our weekly email newsletter SE1 Direct.
7,000+ locals read it every week. Can you afford to miss out?
Read the latest issue before signing up