Office-to-residential conversion is in an affluent borough of London.

Residential-focused developer Sheen Lane Developments has appointed agents to sell Coombe Hill House in Raynes Park for around £49.8m, a 5.65% gross yield, React News can reveal.

Sheen Lane bought the five-storey former office in 2020 for refurbishment into a residential scheme.

The project on Beverley Way is due to complete in January, and includes 128 apartments across 20 studios, 59 one-bedroom and 49 two-bedrooms units.

The net saleable area of the scheme is 62,400 sq ft and the estimated rental value of the flats on completion is around £2.7m each year. Amenities include a coworking space, gym, residents’ lounge and cinema.

The site is in the south-west London borough of Kingston-upon-Thames, near to Raynes Park and New Malden train stations and the town of Wimbledon.

Sheen Lane Developments is a privately owned company based nearby in Richmond. Since it was founded in 2013, Sheen Lane said it has developed 2,300 residential units across 42 schemes with a further 2,100 in the pipeline.

Clifton Agency and Allsop have been appointed to find a buyer for the project.

Elsewhere in London, Clifton and Allsop are also advising Sheen Lane on the sale of another office-to-residential development, the 86-apartment Catella Court in Croydon.

The building is being marketed at a guide price of around £28m.

In Richmond, Sheen Lane is also delivering a redevelopment of the former House of Fraser store into a retail and leisure scheme.