Plans to create 78 flats at the Tolworth Tower site have been submitted to Kingston Council, in the first bid to transform the building since it was bought by a property developer.

CNM Estates, which bought the site in October, has proposed a change of use of 3,862sq m of office space over four floors inside the north wing, the seven-storey block next to the Travelodge in Ewell Road.

The application outlines plans for 48 one-bedroom flats and 30 two-bedroom flats, with a focus on “an affordable price point to assist first-time buyers”.

Kingston Council leader Kevin Davis said: “Anything that contributes to making Tolworth more attractive and visited by people, it has got to be a good thing and will help regenerate the area.”

Tolworth Tower went on the market in July, two years after a syndicate led by Simon Cowell’s brother Nicholas dropped plans to buy it.

Estate agents Knight Frank marketed the building as a potential multi-use complex of residential, office and retail space, with extra shops and leisure facilities along Tolworth Broadway.

CNM Estates is understood to have put down a 10 per cent deposit of the £45m asking price for the building, but have so far remained tight lipped about its long-term vision.

When CNM Estates announced its purchase, chairman Wahid Samady told the Surrey Comet: “We have bought it because I care about Tolworth. I’m going to do something stunning and brilliant for it.

“We are standing tall and we are developing for the borough.”

A consultation document on the council website says: “The overall aim to improve the Tolworth Tower site will be undertaken with continuing work with the council, key stakeholders, residents, businesses and councillors.

“The completed development will provide an enhanced retail offer, high quality public realm space, outdoor catering and entertainment and an improved access arrangement for the existing uses.”

Earlier this year, a plan for 800 homes on the opposite side of Tolworth roundabout to make way for a rival 23-block tower, was unveiled by Tesco.