Sale of prime inner-city riverfront parcel at Bulimba Barracks will see 800 riverfront dwellings

The jewel in Brisbane’s crowded riverfront property market has just been sold for $63 million, opening the potential for up to 800 new dwellings.

An aerial of the Bulimba Barracks. Picture: Supplied Defence Department

THE jewel in Brisbane’s crowded riverfront property market has just been sold for $63 million, opening the potential for up to 800 new dwellings at Bulimba.

The Shayher Group’s purchase of the previously Defence-owned Bulimba Barracks settled earlier today.

Department of Defence aims to sell Bulimba Barracks development land by the end of the year

Bulimba Barracks master plan: Brisbane City Council approves city plan amendment

Defence Industry Minister Melissa Price said it represented the Government’s “ongoing commitment to unlock surplus Commonwealth land for alternative uses, including housing”.

Artist’s render for the draft Bulimba Barracks Master Plan released by Brisbane City Council.

The Bulimba Barracks draft masterplan for the 20ha site.

“The sale of Bulimba Barracks will unlock the potential of the site to deliver environmental, community amenity, heritage and housing supply outcome,” she said.

Housing Minister Michael Sukkar said the Barracks site could unlock the development of up to 800 new dwellings near the heart of Brisbane.

“I look forward to the Shayher Group, an experienced developer, now working with the Brisbane City Council to progress a detailed planning proposal,” he said.

The planning proposal will include community consultation and a remediation action plan to be approved by an auditor accredited by the Queensland Government.