A "security incident" sparked a police response and temporary school lockdowns.
Pupils at John Ruskin College in Croydon and nearby Quest Academy were kept inside classrooms after reports of someone with a bladed weapon in the area.
The Metropolitan Police confirmed officers attended a college on Selsdon Park Road at 5.08pm.
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A spokesperson for the Metropolitan Police said: "Around 17:08hrs, officers attended a college in Selsdon Park Road, Croydon, following reports that a person had been seen with a bladed weapon.
"Police attended, but, by the time they arrived, the suspect had left the scene.
"No injuries were reported, and the college was temporarily placed on lockdown while officers made enquiries.
"This has now been lifted."
The suspect is believed to be a teenager and police are continuing to search for them.
Quest Academy confirmed it also went into lockdown as a precaution during the incident.
A spokesperson for the academy said: "Pupils were allowed to leave as soon as the school was given the all-clear."
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