The Grumpy Strategists Deceased estate: Oz Defence sells the silver to fund poor lifestyle choices, & US obliterating Iranian nukes (again).
Feb 5, 2026
A salty takedown of plans to sell off prime defence real estate and what that means for local presence and heritage. A wry breakdown of the true proceeds and remediation costs behind the sales. A sharp look at the U.S. National Defense Strategy shift since 2022 and how changing American priorities reshape Australia's deterrence choices. A skeptical view of sudden military claims and political posturing.
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Redeveloping Victoria Barracks Fantasy
- Michael Shoebridge jokes about redeveloping Victoria Barracks into a 112-storey bunker-topped tower clad in reclaimed sandstone.
- He imagines playing golf with Jared Kushner while converting Swan Island Golf Course into prime real estate.
Selling Urban Estate Cuts Community Ties
- The divestment targets high-value metropolitan sites while offloading regional and historic assets to raise cash.
- Marcus Hellyer and Michael argue this shifts Defence away from the community and sells institutional heritage.
Family Silver Won't Fix The Budget
- The review expects roughly $3 billion gross with $1.2 billion remediation, leaving about $1.8 billion net.
- Michael frames that as a shortfall: it buys ~20% of a Hunter frigate or about two of 'Hegseth' suitcases, so it won't fix Defence's funding problem.