A freehold bungalow plot in posh District 11 expected to fetch over $38 million was put up for sale by tender Tuesday.

That price works out to at least around $1,686 psf for the 22,534 sq ft land parcel, which is near the Camden Park and Chee Hoon Avenue Good Class Bungalow (GCB) areas.

The site, at No. 16 Tudor Close, is accessible via Dunearn Road and Kheam Hock Road. It is zoned for a two-storey bungalow under the Master Plan 2008 and has approval for subdivision into four bungalow plots.

"Such prime site is rare and would appeal to boutique developers and extended families who wish to stay close together," said Mr Steven Ming, deputy managing director of Savills Singapore. The tender will close on June 28.