Residents in the Groves have received a flyer in the post detailing plans for a block comprising 25 homes.
The site in Coombe Road would be five storeys high which is taller than the dental practice and offices either side of it.
Buckinghamshire based Progress Planning says the core focus is on securing at least 20% of the mix for 3 bedroom family units.
The site, opposite Christ Church New Malden, is currently occupied by Toolstation which only set up there in 2021.
Some residents have already voiced concerns following the recent erection of another tower block also in Coombe Road.
Flats at Castanea Court are still only partially sold and considered by some as unaffordable with prices ranging from £440,00 to over a million pounds.
To find out more about the plans, click here.
A Toolstation spokesperson says: “We are aware of this initial planning proposal consultation being set in place for local residents to discuss redevelopment in the coming years. We have no plans to move from this site and of course remain open and welcoming customers.”
Toolstation has confirmed it leases the site.