Claremart Auction Group will submit a portfolio of three Atlantic Seaboard commercial and investment properties on auction at the end of this month.

The properties offer investors the opportunity to acquire a footprint in the popular and stylish Sea Point area — known as the entertainment precinct of Cape Town.

In Three Anchor Bay, located in the rejuvenated strip close to Glengariff Road, Claremart has a property offering fantastic redevelopment and rental potential under their hammer.

This tenanted retail component currently accommodates 10 sectionalised shops and offers over 1 650m² of ground floor coverage, as well as seven parking bays.

“At market-related rentals, this site would offer an investor between R1,8m and R2m in income per annum,” says sales director Farrell Perling.

“This is an indication of value once upside potential has been unlocked.”

The lively Main Road ranks Sea Point as one of the top commercial investment areas.

Perling highlights two adjacent buildings in Main Road, close to the popular St John’s Piazza Shopping Centre development, which will be offered individually and together.

The building at 182 Main Road is a nationally tenanted redevelopment building. It has three retail ground level units and a huge 350m² penthouse apartment, including a terrace, and includes large additional bulk for redevelopment.

The rental currently lies at around R650 000 a year, with fantastic upside and redevelopment potential.

Situated adjacent to the above property, at 174 Main Road, Alice Court in Sea Point is a mixed residential and commercial landmark building.

It accommodates the Mr Chang’s Restaurant on street level; the building also includes six apartment units with three bedrooms each.

There is a six-month redevelopment clause in place, which would facilitate efficient redevelopment of this site, possibly combined with the adjacent building.

Perling believes that huge value can be realised if the properties are consolidated in a redeveloped commercial and residential mixed-use complex.

“The combined erf size of approximately 1 000m²simply cannot ask for a better commercial location in Sea Point, and with signature mixed-use developments on the doorstep, these properties make for a sure investment.”

The properties may be viewed on Wednesday, September 10 and Thursday, September 18 between noon and 3pm.

The coastal suburb enjoys a bustling 24-hour cosmopolitan vibe that has drawn a number of city executives and trendy youngsters to the area, making Sea Point one of the most fashionable upmarket addresses.

The suburb’s convenient distance to Cape Town’s CBD, N1 and N2 national roads adds to its appeal.

The Sea Point and Three Anchor Bay Properties will be auctioned on Thursday, September 25 in the Ballroom of the Mount Nelson Hotel, Gardens, at 12.30pm.