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The building was built in 1774 for John Julius Angerstein , a Lloyds under-writer whose art collection was bought in 1824 to form the nucleus of the National Gallery, London . Acquired by the London Borough Of Greenwich in 1967, the house opened as a Local History Library and Art Gallery in 1972.

In October 2003, the local history archives were moved to a new site on the Royal Arsenal site in Woolwich . Since then, there have been fears that the Gallery might have to close; the council was seeking new funding for the adjacent Mycenae House and proposals included closure of the Gallery and redevelopment of the building.