Shipyard at Benoi Road for sale at $11.3 mil

A plot of land boasting a size of over 500,000 sq ft with waterfront access located at the junction of Benoi Road and Pioneer Road within the Jurong Industrial Estate has been launched for sale via an expression of interest (EOI) exercise at a guide price of $11.3 million.

Various structures already situated on the property include 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 a wharf. It is suitable for shipbuilding, ship or vessel repair and maintenance.

The property located around 24km from the City Centre is easily accessible with the Ayer Rajah Expressway and Pan-Island Expressway in the vicinity, as well as the Joo Koon MRT Station, which is a five-minute drive away.

Isabel It, associate division director of Huttons Asia, states that the plot is regular in shape and has a corner frontage of around 255m on Benoi Road and Pioneer Road, with an average plot depth of 213m. On the east side, the land has a 230m frontage against the waterfront.

“The land is generally at an access-road level with a flat contour,” It adds.

Lee Sze Teck, senior director of research at Huttons Asia, reveals that the last known sale of an industrial property on Benoi Road for similar usage, based on caveats lodged, was a 328,105 sq ft plot at 5 Benoi Road in December 2020 for $10.5 million.

In February 2021, a shipyard with a site area of approximately 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.

“The property 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,” remarks Lee.

The sale of the property known as 1 Benoi Road is subject to approval from relevant authorities. The EOI exercise for the property closes on April 27 at 3pm.

For further real estate development news and transactions around Benoi Road, Jurong Industrial Estate, check out the latest listings near the area.