Floor panel heating system using hot water is the primary heating system of domestic residential building. This paper presents the results of performance analysis of the heat pump system with air source evaporator and single unit dual sink(SUDSk) condenser. The heat exchanger combines two separated condensers into a single condenser and the object of the SUDSk condenser is to release energy to dual sinks, i.e. air for air heating system and water for panel heating system in one single unit. Simulation program is developed for single unit dual source(SUDS) SUDSk heat pump system and some experimental data are obtained and compared with simulation results. Differences of heating capacity and COP in dual source operating mode are 7% and 8% respectively. Simulation results are in good agreement with test results. Therefore, developed program is effectively used for design and performance prediction of dual source dual sink heat pump system with SUDS evaporator and SUDSk condenser.