Shipyard at Benoi Road for sale at $11.3 mil

The property at 1 Benoi Rd, located at the junction of Benoi Road and Pioneer Road within Jurong Industrial Estate, has recently been launched for sale via an expression of interest (EOI) exercise at a guide price of $11.3 million. Boasting a site area of over 500,000sqft and waterfront access, it is suitable for shipbuilding, ship or vessel repair and maintenance according to marketing agent Huttons Asia.

The property is located approximately 24km from the City Centre and close to nearby housing estates such as Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens. Joo Koon MRT station is a five-minute drive away, and there is easy access to other parts of the island via the Ayer Rajah Expressway and Pan-Island Expressway.

Recent transactions of industrial property on Benoi Road, according to EdgeProp Research Tool, includes a 328,105 sq ft plot at 5 Benoi Road in December 2020 at $10.5 million. Another plot of similar size, with a site area of about 1.5 million sq ft at 55 Gul Road – about a 10-minute drive from 1 Benoi Road – was acquired by ST Engineering for $95 million in February.

The plot for sale at 1 Benoi Road is regular in shape with a corner frontage of about 255m on Benoi Road and Pioneer Road and an average plot depth of about 213m. To its east, the land has a roughly 230m frontage along the waterfront. It is generally at an access-road level with a flat contour.

Isabel It, associate division director of Huttons Asia, said it is suitable for companies looking to expand their business, as a plot of land of such size meant for vessel building or maintenance usage is rarely available for sale.

The property includes a two-storey office block with a single-storey annexe office, three blocks of single-storey workshop, a mould loft building, a fabrication workshop and wharf.

The sale is subject to approval from relevant authorities, and the EOI exercise for the property will close on April 27th at 3pm.

Lee Sze Teck, senior director of research at Huttons Asia, believes that such an opportunity is ideal for companies needing large plot size. He commented that it is rare to find plots suitable for vessel building or maintenance of such size available for sale.

Check out the latest listings near Benoi Road, Jurong Industrial Estate to take advantage of this great opportunity.

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