Shipyard at Benoi Road for sale at $11.3 mil

An extremely rare opportunity to acquire an industrial property of over 500,000 sq ft with waterfront access has been launched for sale at 1 Benoi Road in Singapore. The site has a guide price of $11.3 million and 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 property is situated in the Jurong Industrial Estate, located 24km from the City Centre and located near housing estates such as Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens. The Ayer Rajah Expressway and Pan-Island Expressway provide easy access to other parts of the island, and Joo Koon MRT Station is just a five-minute drive away.

According to Isabel It, associate division director of Huttons Asia, the property has a regular shape with a corner frontage of about 255m on Benoi Road and Pioneer Road, with an average plot depth of about 213m. The land is generally at an access-road level with a flat contour and additionally offers an approximately 230m frontage along the waterfront.

Recent sales of industrial property at Benoi Road offers some perspective of the area, with a 328,105 sq ft plot at 5 Benoi Road being acquired in December 2020 at $10.5 million. A larger plot of 1.5 million sq ft at 55 Gul Road, located a 10-minute drive away, was acquired by ST Engineering for $95 million in February.

Such a large plot of land with potential for shipbuilding and vessel repair and maintenance is rarely available for sale. Huttons Asia believes that this is the perfect opportunity for companies intending to expand their business.

The expression of interest exercise for the property will close on April 27 at 3pm, and is subject to approval from relevant authorities.

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