The announcement came after the London Fire and Emergency Planning Authority (LFEPA) yesterday agreed to sell the sought-after 1ha riverside plot to developer Native Land.
There are also stipulations that the Brigade's memorial hall and a listed drill tower must also be kept and that the Lambeth Fire Station - also on the site- must be refurbished and upgraded.
It is understood the fire service will move into a new HQ building in Union Street, Southwark.
Alasdair Nicholls, chief executive of Native Land, said: 'We are delighted to have agreed terms with LFEPA to acquire this important riverside site.
'We have appointed a design team to deliver a high-quality mixed-use redevelopment scheme that will also create best value for our public-sector partner.'
A planning application is expected to be submitted by the end of 2007.