Aga Khan's Islamic museum bid

The Aga Khan has bid ? 24million for one of the most desirable sites in central London - to house the largest Islamic cultural centre and collection in the English-speaking world.

The billionaire spiritual leader of millions of Ismaeli Muslims hopes to site the centre on land by the Thames near St Thomas' Hospital.

However, consultants at the hospital are threatening to chain themselves to the railings if the project is approved.

The £24 million offered by the Aga Khan to King's College Hospital, the owner of the land, is double the market value. But the Guy's and St Thomas' Trust has its own expansion plans which it claims are vital for it to retain its eminent teaching status.

Consultants at St Thomas', which can afford only £12million, say they will resort to tactics normally used by militant protesters if their plan to extend the hospital loses to the Aga Khan's bid.

Professor Kevin Burnand said: "It would be a disaster for us and the NHS if this land was lost. I and many of my colleagues would the land, which at the moment contains only a series of small outbuildings and part of the medical school's library.

The site, which extends over 150 yards of prime riverfront, would be worth even more if there were no vetos on business or residential use.

Last week, the Board of Guy's and St Thomas' Trust unanimously opposed the sale to "any outside party". But as the Government is powerless to intervene, doctors are pinning their hopes on public pressure to stop the land being sold privately.

St Thomas' chief executive, Dr Jonathan Michael, said in a letter to health chiefs that "the board is disturbed that, at a time when there is a proposal that has the academic and organisational support of both King's College London and the Trust, the possible sale of this site to a third party for a hugely inflated cash sum is being considered".

Ian Cheyne, the 65-year-old Aga Khan's director of private affairs, said: "We believe this project would benefit London and complement Guy's and St Thomas'."

A decision on the site will be made by the 40-strong council of King's College London on 8 May.