A freehold bungalow plot off Meyer Road has been put up for sale.

The property, at 12 Broadrick Road, is being sold by trustees of the estate of the late owner, at an asking price of $22 million to $24 million. This reflects a land rate of $1,361 to $1,485 psf.

The site, measuring 16,160 sq ft, may be subdivided and redeveloped into two or three adjoining bungalow plots, subject to approval from the planning authorities, says sole marketing agent JLL. Over the years, many of the larger plots in the area have been redeveloped into multiple bungalows occupying smaller land areas, it adds.

From Katong Park MRT station on the upcoming Thomson-East Coast Line, which is slated for completion in 2023, 12 Broadrick Road is a 9-minute walk, or 0.8 kilometre away. It is a 10-minute drive to the central business district.

This year, two bungalows in the Broadrick Road neighbourhood changed hands - one on a 6,006 sq ft plot was transacted for $12.5 million ($2,081 psf) in April; and the other on a 5,899 sq ft plot fetched $10.9 million ($1,825 psf) in January, according to caveats lodged.

The expression of interest will close on July 9.