Shipyard at Benoi Road for sale at $11.3 mil

The property at 1 Benoi Road in Singapore’s Jurong Industrial Estate has been launched for sale at an expression of interest (EOI) exercise and a guide price of $11.3 million. This site of a shipyard has a site area of over 500,000 sq ft with waterfront access.

Located at the junction of Benoi Road and Pioneer Road, it’s approximately 24km from the City Centre and nearby housing estates such as Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens. Additionally, the property has easy access to the island’s highways – the nearby Ayer Rajah Expressway and Pan-Island Expressway. Joo Koon MRT Station is just a five minute drive away.

Associate Division Director of Huttons Asia, Isabel It, describes the plot as regular in shape and possessing a corner frontage of 255m on Benoi Road and Pioneer Road with an average plot depth of 213m. The land also has a 230m frontage along the waterfront to the east and is generally found at an access-road level with a flat contour.

Recent transactions around Benoi Road, according to EdgeProp Research tool, indicate the last known sale of a similar-usage property was at 5 Benoi Road in December 2020 with a site area of 328,105sq ft and sold for $10.5 million. ST Engineering purchased a shipyard of 1.5 million sq ft at 55 Gul Road – about a 10 minute drive from 1 Benoi Road – for $95 million back in February this year.

Given the scarcity of sites suitable for shipbuilding or vessel repair and maintenance, Lee Sze Teck, Senior Director of Research at Huttons Asia, believes this property for sale is perfect for companies looking to expand their business.

The sale of the property is subject to approval from relevant authorities, and the deadline for the EOI exercise is April 27 at 3pm.

For those looking out at potential real estate investments near Benoi Road, the Jurong Industrial Estate is worth some attention. Check out the latest listings today.