Jun 15, 2026 – 5.00pmThe sale of a surplus Defence property for $23 million has kicked off the federal government’s plan to offload dozens of military sites, with the buyer expected to turn the land into apartments.Urban Apartments, part of Sydney developer Urban Property Group, on Monday settled the purchase of the 3.6 hectare Penrith training depot in Sydney’s outer western suburbs, almost nine years after it was first identified by the Turnbull government as surplus to Defence’s requirements.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles