Australian Government to Sell 67 Defence Properties to Raise Up to $1.8 Billion
The Albanese government plans to sell 67 defence properties to raise up to $1.8 billion for the Australian Defence Force, aiming to address capability gaps and reinvest in northern bases and the AUKUS program. An independent audit indicated many facilities are underutilized or deteriorating, leading to an expected annual savings of $100 million in maintenance costs. The divestment will be managed by the Department of Finance, with only a navy diving school in Clareville being retained.
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The Albanese government plans to divest 67 defence sites to generate up to $1.8 billion for the Australian Defence Force (ADF). This initiative aims to address critical capability gaps and reinvest in northern bases and the AUKUS program.
Properties include Victoria Barracks in Sydney, Melbourne, and Brisbane, along with other high-profile sites such as HMAS Penguin and Spectacle Island. An independent audit revealed that many facilities are underutilized or deteriorating, suggesting that maintaining them is not sustainable.
The government expects to save approximately $100 million annually in maintenance costs. While 64 properties will be fully or partially sold, the only site retained is a navy diving school in Clareville. The divestment process will be managed by the Department of Finance, and proceeds will support the ADF's $51.4 billion budget.
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