The property located at 1 Benoi Road in Jurong Industrial Estate is now open for submission of an expression of interest (EOI) with a guide price of $11.3 million. This 500,000 sq ft site is ideal for shipbuilding, ship repairs, and vessel maintenance and features a two-storey office block and three single-storey workshop blocks, as well as a mould loft building, a fabrication shop and wharf.
It is situated near housing estates including Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens and is approximately 24km from the City Centre. Accessibility is further eased by Ayer Rajah Expressway and Pan-Island Expressway, with Joo Koon MRT Station located a mere 5 minutes away.
Isabel It, Associate Division Director of Huttons Asia said that the land is generally at an access road level with a flat contour, measuring a corner frontage of 255m on Benoi Road and Pioneer Road, with an average plot depth of about 213m. Its eastern side also offers about 230m coast frontage.
Recent transactions of industrial property on Benoi Road show that the last known sale was of a 328,105 sq ft plot at 5 Benoi road in December 2020 at $10.5 million. In February 2021, a 1.5 million sq ft existing shipyard at 55 Gul Road was acquired by ST Engineering for $95 million.
Lee Sze Teck, Senior Director of Research at Huttons Asia, believes that the current property can provide greater opportunity for those looking to expand their business, as land suitable for vessel building and maintenance in such size is not often available for sale.
Any sale, however, will be subjected to the approval of the relevant authorities. The EOI exercise for 1 Benoi Road will close on 27 April 2021 at 3pm. Check out the latest listings near Benoi Road and Jurong Industrial Estate to explore more real estate options.