Demolition on the derelict Putney Hospital site will start this week, and the new school, Putney Oasis Academy, is due to open in 2016, according to Wandsworth Council.
The cost of building the school will be largely funded by the sale of land for 24 flats at the northern end of the site, which is currently home to the disused nurses' accommodation block.
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Just over half of the land which was used by the hospital is needed for the new school and flats. The rest of the land, which is mostly covered with ancillary buildings or tarmac, will be grassed over to form an integral part of Putney Lower Common.
Education spokesman Cllr Kathy Tracey said: "After 15 years of dereliction this site will now be transformed into a new primary school for the people of Putney. These extra places will help to meet rising local demand and will give parents greater choice when it comes to selecting a school for their children."
(CD/IT)
