Australia to sell 64 military properties, including historic sites, to raise $2B for defence.

The Australian government plans to sell 64 military-owned properties, including historic sites like Victoria Barracks in Sydney, Melbourne, and Brisbane, to raise nearly $2 billion for defense. The move, part of a broader review, aims to cut maintenance costs, improve public access to heritage sites, and reinvest proceeds into military capabilities. Many of the properties are underused, vacant, or in poor condition, with some sites operating at low occupancy. The sales, managed by the Department of Finance, may take years and could involve partial divestments. While heritage protections limit redevelopment.