Maureen Betts, Lazzaro Pietragnoli, Sophie Levi and Mick Hudspeth with the Chalk Farm Library pledgeometer. Picture: Polly Hancock

Campaigners will be handed the keys to Chalk Farm Library after agreeing a takeover bid with Camden Council on Tuesday (February 14).

After two weeks of extended negotiations, Primrose Hill Community Association (PHCA) and the Friends of Chalk Farm Library have settled for a six-year rent-free lease.

The council has approved £100,000 of transitional funding as it prepares to withdraw long-term backing from three libraries across the borough on March 31.

The group has raised £521,000 in pledges, including donations from Alan Bennett and Joan Bakewell, towards its £1.2million fundraising target.

Maureen Betts, chairwoman of the PHCA management committee, said: “This agreement secures the long term future of Chalk Farm Library – to be called the Primrose Hill Community Library – and enables us to deliver our radical new vision to transform the building into a welcoming innovative area for the community open all week.”