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The Cowdray Club was established in 1922 and remained in existence until 1974 when it merged with the Naval and Military Club in Piccadilly. Its original name was The Nation's Nurses and Professional Women's Club Ltd, and its accounts and legal agreements used this name throughout. The First Viscountess Cowdray did much to promote the nursing profession. As Annie Pearson, the wife of Weetmar Dickinson Pearson, a successful engineering contractor (Pearson and Son), her life had taken her to Spain, Mexico, New York, Egypt and Malta. She left her mark in her humane care for her husband's employees and in the gift of Cowdray Hospital to Mexico City. She was a supporter of district nursing, being associated with the Queen's Institute of District Nursing, and active in establishing nursing services in many rural districts of England and Scotland. She provided seven Queen's Nurses at her own expense.
Following the creation of the College of Nursing in 1916, Viscountess Cowdray became involved with fundraising for The Nation's Fund for Nurses for the Creation of a Benevolent Fund for Nurses and the endowment of the College of Nursing. This involvement led to the idea of a gift of a social club for nurses and professional women which "should provide a centre for intercourse and recreation and which should also furnish some of those creature comforts which we associate with the word 'Home'". To this end the Cowdrays purchased 20 Cavendish Square from Mr and Mrs Asquith.
The house was originally built in 1703 and possessed a staircase decorated by Sir James Thornhill. It was converted into a club by Sir Edwin Cooper and later given a new facade after the purchase of neighbouring properties by the College of Nursing in 1928-1930. The building belonged to the College of Nursing and was leased to the club.
The membership of the club was on a basis of 55 per cent nurses, 35 per cent professional women and 10 per cent women without professional qualifications. The College of Nursing had a 50 per cent representation on the council of the club. For much of its existence, the club had over 4,000 members.