As at 18 May 2010, Bare Island is nationally significant as an almost completely intact example of late nineteenth century coastal defence technology. Designed by Sir Peter Scratchley to a specification by William Jervoise, it represents one of the more substantial and impressive of the many fortifications built around Australasia. The Fort reflects the evolution of the relationship between New South Wales as an increasingly independent colony and Britain. It shows the way that strategic defence policy was operating in Australia on the eve of Federation. The Fort is also nationally significant as the site of the first War Veterans Home founded in Australia. This reflects the social and moral obligations felt by Australians early this century to the veterans of wars fought across the British Empire. It is an early major construction from mass concrete, at a time when the use of this material was still uncommon and not well understood. The Fort is of State significance for its pivotal role in the closure of the career of James Barnet, NSW Colonial Architect. It has significant impacts on the way publicly funded construction was carried out in New South Wales after that time. The Fort is regionally significant as the only island in Botany Bay. The form of the island has been changed by the construction of the Fort, to present a functional structure which nonetheless is of high aesthetic value. It is an important example of fortification design which demonstrates the evolution of the theory of coastal defence, the technology of defence and coastal fortification design. The Fort is regionally significant to the general community as part of the recreational and historic landscape of Botany Bay. Bare Island has particular local significance to the La Perouse community as an item of local heritage value.