What is included in the Victorian Defence land sale?

The program includes Victoria Barracks in Melbourne, RAAF Point Cook and other training, museum and open‑space sites. Parcels vary in size, heritage status and environmental condition. The Commonwealth targets up to A$3 billion in proceeds and about A$100 million a year in maintenance savings, with timing phased by site readiness and approvals.

How long could sales of Victoria Barracks and other sites take?

Expect a multi‑year process. Site audits, heritage and environmental studies, planning approvals and market engagement take time. Veterans suggest the broader program of historic sites could span a decade. Timelines will likely align with remediation milestones, particularly at Maribyrnong, and state planning outcomes that define permissible uses and densities.

What drives land valuation across these Defence assets?

Pricing will hinge on location, zoning potential, heritage limits, contamination scope, staging and infrastructure needs. For Victoria Barracks and RAAF Point Cook, adaptive reuse feasibility and community benefits can lift bids. Clear approvals and verified remediation reduce discounts. Funding costs, cap rates and construction inflation also influence residual land value.

Why is Maribyrnong remediation so important to investors?

Maribyrnong has heavy contamination from historic munitions work. Cleanup scope and sequencing will determine when parts of the site can be sold or developed. Investors should underwrite conservative costs, allow contingencies, and link payments to verified remediation outcomes to protect returns and avoid delays in bringing clean sub‑precincts to market.

Law and Government

February 5: Defence Sell-Off Puts Victoria Barracks, Point Cook in Play

ByHuzaifa Zahoor February 5, 2026February 5, 2026

Victoria Barracks is now in play as the Commonwealth advances a Defence land sale across Victoria. Canberra targets up to A$3 billion in proceeds and about A$100 million a year in maintenance savings. Key assets include RAAF Point Cook and the contaminated Maribyrnong precinct, where remediation will be pivotal. We outline timing, approvals, valuation drivers and risks so investors can size the multi‑year pipeline and position for precinct‑scale redevelopment without underestimating heritage and Maribyrnong remediation constraints.