Totteridge Library is set to be sold to property developers based in the British Virgin Islands for more than £1.5 million without a replacement library service being provided.

Bonshire Investments' bid for the library, which was closed in April 2004, was due to be accepted at a meeting of Barnet Council's cabinet resources committee last night.

Totteridge Library, in Totteridge Lane, was originally closed after the council claimed it would be too costly to provide disabled access at the site, but after pressure from residents, Barnet's top councillors decided to offer the site to tender, under the proviso that a library service would be reprovided. No viable offers were received, according to the council, and last July the property was put on the open market, to the disgust of Totteridge residents who had fought to save the amenity.

More than 60 potential purchasers have toured the site, and 31 bids were received, including offers to turn the former library into a medical centre, but officers recommended this week that the sale go to Bonshire Investments.

This newspaper was unable to contact Bonshire Investments, but documents held by Islington Council reveal that Bonshire Investments received planning permission to extend a listed building in Thornhill Square, Barnsbury, last July. The company provided another address in Monte Carlo.

Bob Jacobson of Greenway Close, Totteridge, who has campaigned against the closure of the library, said: "We are, of course, extremely disappointed and for me there is a sense of betrayal.

"We are particularly concerned about the effect the closure will have on nearby St Andrew's School." Councillors asked for officers to 'investigate unexplored options and costs for a replacement library' at the time of putting the site up for sale, but at the moment, no alternative has been offered.