Pastoral House delivers returns for AMP

Wellington's Pastoral House, former home to the Dairy Board, is a winner for new owner AMP NZ Office Trust even before new tenants move in.

The trust bought the building a few years ago and has almost finished modernising it at a total cost of $38.4 million.

Executive manager Robert Lang said the building now had an estimated value of $50 million.

The Ministry of Agriculture and Forestry is the main tenant, taking 14 floors for a 12-year lease. MAF will move in by November.