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The Australian federal government has announced the sale of 60 Defence Force properties, including Sydney's historic Victoria Barracks from the 1840s, Spectacle Island naval base, part of Penguin Base at Balmoral, and Lancer Barracks in Parramatta. The property audit identified these sites as surplus and costly to maintain, with the sell-off expected to raise $1.8 billion after costs are met. All proceeds will be reinvested into Defence spending, with plans to preserve heritage values and potentially open some sites for public access or housing developments. Subscribe and set 🔔 » https://7news.link/YTSubscribe | For the latest Australian news and breaking news alerts, connect with 7NEWS online: Visit » https://7news.com.au 7Plus » https://7plus.com.au/ 7NEWS Podcast » https://open.spotify.com/user/dm9fk9h... Facebook » / 7newsaustralia TikTok » / 7newsaustralia Instagram » / 7newsaustralia X » https://x.com/7NewsAustralia 7NEWS combines the trusted and powerful news brands including Sunrise, The Morning Show, Spotlight and 7NEWS.com.au, delivering unique, engaging and continuous coverage on the issues that matter most to Australians. Watch 7 News Australia full broadcasts and full episodes at 6pm and weekdays at 12pm and 4pm on Channel 7 and 7plus. #BREAKINGNEWS #7NEWS