The property at 1 Benoi Road in Singapore is being launched for sale via an expression of interest (EOI) exercise at a guide price of $11.3 million. Located at the junction of Benoi Road and Pioneer Road, within the Jurong Industrial Estate and approximately 24km from the City Centre, it has a site area of over 500,000 sq ft and convenient access to the Ayer Rajah Expressway and Pan-Island Expressway.
The property 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, making it suitable for shipbuilding, ship or vessel repair and maintenance. It has a regular shape with a corner frontage of about 255m on Benoi Road and Pioneer Road and an average plot depth of about 213m. To the east, it has a roughly 230m frontage along the waterfront with a generally flat contour.
Joo Koon MRT Station is a five-minute drive away, while housing estates such as Jurong East, Jurong West, Bukit Batok and Boon Lay Gardens are located nearby.
Recent transactions of industrial property on Benoi Road show a 328,105 sq ft plot at 5 Benoi Road being sold in December 2020 at $10.5 million. In February this year, 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, which is about a 10-minute drive from 1 Benoi Road.
Isabel It, associate division director of Huttons Asia, asserts that the property is ideal for businesses looking to expand their operations, as a plot of land of such size meant for vessel building or maintenance usage is rarely available for sale.
The sale of the property is however subject to approval from relevant authorities. The EOI exercise for the property will close on April 27 at 3pm.
Given its excellent location, size and potential usage, the property at 1 Benoi Road could spark potential investors’ interest. As such, the market should remain optimistic in the bold venture.
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Check out the latest listings near Benoi Road, Jurong Industrial Estate for more information.