Construction of the Russell Street Automatic Telephone Exchange and Postal Building began on 26 January 1948 at a budgeted cost of £900,000. It was completed in 1954 and the building continued to function as a postal building and telephone exchange until c.1998.
Mail orders for Victoria were formerlly handled at the Philatelic Sales Centre at the Russell Street post office. In early 1971, this function was moved to Philatelic Bureau, 12th Floor, 374 Bourke Street, Melbourne. Counter sales continued as normal.