In 2007, the New Zealand Defence Force moved out of the building after tenanting the building since its construction in the 1940s. The building was no longer fit-for-purpose, and according to the Defence Force: "Despite refurbishments the décor remained dull and dated and the building’s services were inefficient." The Defence Force flags were taken down on 23 February 2007 in a ceremony to close of the building.[2]
In December 2012, it was announced that the building would be bought by Argosy Property Management for $33.2 million. A 12-year tenancy agreement was signed between Argosy and the New Zealand Government in January 2013.[3]
Occupation by MBIE
In late 2014, about 2,000 Ministry of Business, Innovation and Employment employees moved from five Wellington buildings into the 15 Stout Street building.[4]
The relocation had a capital budget of over $18 million, but ultimately $16 million was spent. Operational expenditure on the move was $688,000.[4] The costs involved with the refurbishment were controversial, including the almost $70,000 cost of the MBIE sign outside the building, and the $360,000 cost of office furniture ($1800 per staff member).[5]