From development opportunity to seven revitalised homes: The next chapter for 2 Southview Street, Bulli

From a rare development opportunity to seven refreshed homes, 2 Southview Street has taken a remarkable journey in just a matter of months.

Earlier this year, 2 Southview Street, Bulli attracted significant attention when it came to market for the first time in approximately 40 years.

Set on an expansive 1,869sqm parcel just moments from McCauley’s Beach and Sandon Point Beach, the property comprised seven two-bedroom residential homes - four units and three villas - held on a single title.

For selling agent Jake Stylis of LJ Hooker Wollongong, it was an opportunity unlike many others.

“You can't find nearly 1,900 square metres of land that's two streets back from the beach.”

The site ultimately sold prior to its scheduled auction for $4.12 million, following strong interest from developers, investors and buyers looking at a range of different possibilities for the property. But the story of 2 Southview Street didn't end when the sale went unconditional.

In fact, that was just the beginning of its next chapter.

A property with history

2 Southview Street had been part of the local property landscape for decades.

The site had been held for around 40 years before coming to market, with the original units believed to date back to the 1960s. The three villas were subsequently added by the owners, creating the unique seven-home configuration that existed when the property was eventually offered for sale.

For the previous owners, it represented decades of history and a significant long-term holding.

For the eventual buyer, however, it represented something different: an opportunity to take an established residential site and give it a new future.

As Jake explains, that versatility was one of the property's biggest attractions when it was first offered to market.

“There was a lot of interest from buyers looking at the site in completely different ways. Some saw the investment potential, others saw the development opportunity, and there were buyers who could see the potential in renovating the existing homes.”

That flexibility ultimately led to an Illawarra-based buyer securing the property with plans to complete the strata subdivison and renovate all seven homes.

From buyer to transformation

Following the sale, Martin Merritt of LJ Hooker Wollongong continued working closely with the new owner to explore how the seven existing dwellings could be revitalised rather than replaced.

Working alongside Whiteys Construction, the homes underwent significant renovation and refurbishment, resulting in seven individually saleable residences with a fresh, modern look and feel.

These homes now feature upgrades including air conditioning, refreshed interiors and contemporary finishes.

For Martin, the project demonstrates how existing housing stock can be transformed to meet the needs of today’s buyers.

“We haven't had to start from the ground up. We've taken existing homes, invested in them and brought them up to a modern standard.”

“It gives buyers the opportunity to purchase something fresh and updated without the cost and timeframe of a complete knockdown rebuild.”

Creating more opportunities from what already exists

With housing availability continuing to be an important consideration for local communities, projects such as 2 Southview Street demonstrate another way of increasing the supply of quality homes.

Rather than replacing seven existing residences with a single dwelling or leaving older properties untouched, the project has retained the seven-home configuration while substantially improving the homes themselves.

That means all existing residential opportunities have been brought back to the market in a refreshed and modernised form.

For buyers, that creates choice.

For the local area, it means existing housing stock is being reinvested in and made more suitable for the next generation of residents.

And for the people involved in the project, it demonstrates what can happen when a buyer, builder and real estate team work together with a clear vision.

A different kind of development story

The transformation of 2 Southview Street is also a reminder that property development doesn't always have to mean starting again.

There is significant potential in existing homes - particularly in established suburbs where land is limited and demand remains strong.

By renovating and improving existing dwellings, properties can be modernised while retaining the underlying residential opportunities already present on the site.

For Martin, that's what makes this project particularly rewarding.

“It's been fantastic to see the transformation in such a short period of time. When we first sold the property, buyers could see the potential, but seeing that vision actually become a reality is something completely different.”

“Now we've got seven homes that have been refreshed, modernised and prepared for their next owners.”

Jake's journey with 2 Southview Street

For Jake, returning to the property after selling it earlier in the year provides an interesting full-circle moment.

When he first took the property to market, the appeal was the rarity of the landholding, its location and the flexibility it offered buyers.

The property generated significant interest and ultimately sold prior to auction for $4.12 million.

Months later, he is back at the same address - but this time, the conversation is about the individual homes rather than the development site as a whole.

“When we first sold Southview, we knew there were a number of different ways the property could be taken forward. It's great to come back and see one of those visions realised.”

“The transformation is significant, and now individual buyers have the opportunity to own one of these homes.”

The next chapter

From a property that had been part of the same family's story for decades, to a rare development opportunity, to a fully renovated collection of seven homes, 2 Southview Street has already had several chapters.

Now, a new chapter is about to begin. The seven residences are being offered as 4 lots. Lot 1 being the block of four units, with lots 5, 6, 7 being offered as individual villas - providing buyers with the opportunity to secure a refreshed home in one of Bulli's most tightly held coastal locations.

What began as a unique development opportunity has ultimately become something broader: an example of how existing homes can be reinvested in, modernised and returned to the market ready for a new generation of owners.

For the LJ Hooker Wollongong team, it's a project that has come full circle - from selling the original site, to working alongside the new owner and builder through its transformation, and now introducing the finished homes to the market.

“It's a really good example of what can happen when you look at the potential in an existing property,” says Martin.

“Seven homes have been given a new lease on life, and now we're looking forward to seeing them become homes for their next owners."

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