Service Stream wins A$1.6 bn defence contract for property and asset services

Service Stream Limited has announced it secured a significant long-term base services contract with the Australian Department of Defence. Under the contract, Service Stream will provide property and asset services for South Australia and the Northern Territory, encompassing 113 defence sites, including 8 major bases. Services will include estate upkeep, land management, aerodrome operations, and training area and range management.

The contract has an initial term of 6 years, with two extension options of 1-3 years, potentially extending to a maximum of 10 years at Defence's discretion. The combined value of the works for both regions is approximately A$1.6 bn over the initial term. Operations are set to commence on 1 February 2026, and will involve engaging approximately 350 new employees and specialist contractors.

Service Stream anticipates a minimal earnings contribution in FY2026 due to the timing of commencement and the mobilisation program. Managing director Leigh Mackender highlighted the strategic fit of the agreement for Service Stream and its commitment to supporting critical essential infrastructure across Australia.