The 20-hectare site has been identified by Defence as surplus to their needs, and plans aim to "deliver housing, improved community amenity and waterfront access for the Bulimba community and the people of Brisbane".
Bulimba Barracks has been confirmed to be going up for sale since 2015, and in February 2017, Brisbane City Council formally adopted a master plan to allow developers to buy the site and build up to five storeys.
Both the council and state government are eligible to buy the block of land, which will provide public access to riverfront land and an oval with similar dimensions to an Australian rules football field.
Despite not being included on the Commonwealth Heritage List, the site holds local heritage significance, and is included in the Brisbane City Council Heritage Overlay.
Any future owner of the site will need to comply with council's heritage planning scheme.
Defence has completed investigations including detailed environmental, Indigenous and historic heritage assessments in accordance with Commonwealth Property Disposal Policy.
Defence have also completed recommended remediation work to decontaminate the site, which investigations have confirmed is not unusual for a metropolitan redevelopment site.
Contaminants were there as a result of activities unique to Defence.
Ongoing Royal Australian Navy activities are being relocated to HMAS Moreton, which is located adjacent to the Bulimba Barracks site.
Expressions of interest for the site close on 17 December 2018, with stage two of the sale process, request for proposal, expected to commence in early 2019.