The Dockyard was continually upgraded as new ships and equipment came into service. A new wharf was commenced in 1984 and used from 1986.
In 1987 the Ministry of Defence purchased the dry dock from the Auckland Harbour Board, thereby ending a century of subsidy payments for priority use of the facility. An extensive review of the management of the Dockyard was undertaken in the early 1990s. In August 1994 the complex was leased to the British-based firm Babcock New Zealand Ltd for ten years, although the Navy retains actual ownership of the Dockyard. This means each refit and ship repair period is treated as a commercial contract with Babcocks.
Babcocks have replaced cranes, upgraded machinery and restructured their staff, while seeking a variety of commercial work.
VT Fitzroy now own and operate the dockyard.
The museum has a collection of oral histories relating to the Dockyard.