530 properties leased by Defence for about $175 million pa
$64 billion replacement cost of Defence estate and infrastructure
The defence department plans to more than double its annual infrastructure spend over 15 years to $8 billion, which has Australia’s building contractors excited but also concerned about how a government struggling to manage its existing expenditure will cope with twice the volume.
Defence capital spending on buildings, facilities and other infrastructure – estimated in the Labor government’s October budget to total $3.3 billion this year – is set to jump to $8 billion by 2038 and further to $10 billion by 2040, forecasts prepared for industry briefings last year show.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Based in Melbourne, Michael is on Bluesky @michaelbleby.bsky.social. Email Michael at mbleby@afr.com
