Historic England said the Church of All Souls was built between 1839 and 1840 by William Haley in the Romanesque style for Dr Samuel Warren.
The derelict church was described as “the holy grail of redevelopment properties” when it was put up for auction in December 2024.
It had not been used for religious or community purposes for four decades and has since fallen into disrepair, the Local Democracy Reporting Service has said.
It was added to Save Britain’s Heritage buildings at risk register in 2023.
Save Britain’s Heritage said hearing that “bulldozers had started to tear down the grade II-listed All Souls Church” was a “shocking end for a building which has suffered years of deterioration and decay”.
“We understand the building is being demolished due to public safety concerns – but the urgent condition of this beautiful church has been known for years.
“Earlier action should and could have been taken to secure a different future for this church, rather than leaving it to rot.”