Little flat plot - it's remodelled (6)

I believe the answer is:

bedsit

I'm a little stuck... Click here to teach me more about this clue!

'little flat' is the definition.
'bedsit' can be an answer for 'flat' (I've seen this before). I'm not sure about the 'little' bit.

'plot it's remodelled' is the wordplay.
'plot' becomes 'bed' (a plot of land).
'remodelled' indicates an anagram.
'its' with letters rearranged gives 'sit'.
'bed'+'sit'='BEDSIT'

Can you help me to learn more?

(Other definitions for bedsit that I've seen before include "One-room accommodation" , "One-room apartment" , "Simple accommodation" , "single-room accommodation" , "One-room flat" .)

I've seen this clue in the Sydney Morning Herald.

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