Shipyard at Benoi Road for sale at $11.3 mil

A shipyard of 500,000 sq ft located at the intersection of Benoi Road and Pioneer Road, within the vicinity of Jurong Industrial Estate, is now available for sale via an expression of interest (EOI) exercise. Huttons Asia, the marketing agent appointed for the property, has set a guide price of $11.3 million.

The property includes a two-storey office block, single-storey annexe office, three blocks of single-storey workshop, a mould loft building, a fabrication workshop and a wharf. It offers waterfront access and facilitates shipbuilding, ship or vessel maintenance and repair activities.

Situated about 24km away from the City Centre, the land is near several housing estates such as Jurong East and Jurong West, and is close to major expressways such as Ayer Rajah Expressway and Pan-Island Expressway. Joo Koon MRT Station is a short 5-minute drive away.

Associate Division Director of Huttons Asia, Isabel It, shares that the plot is regular in shape with a corner frontage of 255m and average plot depth of 213m with an additional 230m frontage along the waterfront. It is generally at an access-road level with a flat contour.

Recent transactions of industrial property on the same street reveal the sale of a 328,105 sq ft plot at 5 Benoi Road in December 2020, at $10.5 million. Moreover, a shipyard with a site area of about 1.5 million sq ft at 55 Gul Road was acquired by ST Engineering for $95 million in February 2021.

Lee Sze Teck, Senior Director of Research at Huttons Asia, comments that the rare availability of such large property designed for vessel building or maintenance make it a desirable option for businesses that wish to expand.

The sale is subject to approval from relevant authorities and the EOI exercise will close on 27th April 2021 at 3pm. Interested parties can find the latest listings near Benoi Road, Jurong Industrial Estate.