The GPO was relocated to Connaught Place for the construction of the Pedder station (later renamed to Central) of MTR.

In the early 1970s, there were proposals for the site to be swapped for the Alexandra House plot, to create more open space in Central, and be pedestrianised.

[3] Cheung Kong, the enterprise founded by Li Ka-shing, obtained the right for the development of the above-ground structure.

Its first level is accessible from the Central Elevated Walkway or by escalator from the ground floor of the building.

The kiosks or shop units are typically from around 10 square metres, and are rented out to small traders, who sell telecommunications and banking services, to food, and magazines.