Police were called at approximately 11:00hrs on Friday, 2 November to reports of an incident on Derry Street, W8.
Officers, including firearms officers, and the London Ambulance Service attended.
Evacuations took place as precaution.
Two men aged 25 [A] and 36 [B] were found suffering from stab injuries. They were both arrested at the scene on suspicion of causing grievous bodily harm.
The men have been taken to hospital where they remain. Their injuries have been deemed non-life threatening.
There is no evidence that any firearms were involved in the incident. It is not being treated as terror-related.
A crime scene remains in place. At this stage, officers are not seeking anyone else in connection with the incident. Enquiries continue.
Commander Kyle Gordon, who leads the Met's Specialist Firearms Command, said:
"Thankfully this was not a firearms incident, but the initial reports indicated that there had been gunfire and there may have been an active shooter on the scene.
"The response was immediate - within eight minutes of the first call coming in, firearms officers who had joined local officers already on the scene had entered the building to deal with the incident.
"We have robust plans for these types of incidents to ensure our response is swift and effective. My colleagues are trained to confront the danger to keep the public safe and I would like to commend them in how they responded today, in the face of what was initially thought to be an armed threat.
“I would also like to thank the public for reporting the initial incident to us and for their cooperation."