Shipyard at Benoi Road for sale at $11.3 mil
Huttons Asia has launched an expression of interest (EOI) exercise for the sale of a shipyard located at 1 Benoi Road in Jurong Industrial Estate. The property, which has a site area of over 500,000 sq ft with waterfront access, has a guide price of $11.3 million.
This prime piece of industrial land is situated at the junction of Benoi Road and Pioneer Road and is approximately 24km from the City Centre. It is within easy reach of the Ayer Rajah Expressway and Pan-Island Expressway, providing access to the rest of the island. Joo Koon MRT Station is a mere five-minute drive away.
The regular-shaped property has a corner frontage of 255m on both Benoi Road and Pioneer Road, with an average plot depth of 213m. To its east, the land has a frontage of 230m along the waterfront. It is at an access-road level with a flat contour.
Among the buildings on the property are 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. “The property is suitable for shipbuilding, ship or vessel repair and maintenance,” notes marketing agent Huttons Asia.
Isabel It, associate division director of Huttons Asia, adds that the property is structurally suited for companies looking to expand their business, as similar-sized plots for vessel building or maintenance are rarely available for sale. Recent transactions of industrial property on Benoi Road (Source: EdgeProp Research tool) include a 328,105 sq ft plot at 5 Benoi Road in December 2020 at $10.5 million, and St Engineering’s acquisition of a 1.5 million sq ft shipyard at 55 Gul Road in February 2021 for $95 million.
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The sale of 1 Benoi Road is subject to approval from relevant authorities and will close on April 27.
Huttons Asia has offered up this prime industrial property for sale, with the guide price of $11.3 million. Located at 1 Benoi Road in Jurong Industrial Estate, it is easily accessible and features a two-storey office block, 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 and vessel repair and maintenance, and is ideal for businesses wishing to expand their operations, as similar-sized plots for these purposes are scarce. The flat-contour land has a corner frontage of 255m on Benoi Road and Pioneer Road, and a 230m frontage along the waterfront.
Recent transactions of similar industrial properties in Benoi Road, according to the EdgeProp Research tool, include a 328,105 sq ft plot at 5 Benoi Road sold at $10.5 million in December 2020, and St Engineering’s acquisition of a 1.5 million sq ft shipyard at 55 Gul Road for $95 million in February 2021.
The expression of interest exercise for this property will close on April 27. Interested parties will need to obtain approval from the relevant authorities before being able to purchase this prime industrial property.