Work began on Calvert House following the delisting of the Ulster Club building which was constructed in 1863 to a design by Charles Lanyon. Upon clearing the site construction of the steel framed building began in August 1983 and was completed in January 1985. The architects for the building (Kennedy Fitzgerald & Associates) received the RIAI Gold Medal for Architecture award for the design in 1991. The building provides 700sq m of space on the ground floor and 400sq m on the upper four floors. The fifth floor mezzanine level located in the arch of the building was designed to be accessed using a spiral staircase from the fourth floor.

In 2007 local retailer DV8 purchased the former Post Office building and opened its flagship store on the ground floor with office accommodation above. Just before the sale the reported potential price tag on the building was £12m.

Structural Engineer: Armstrong & Shaw
Quantity Surveyor: Rue Stevenson & Sons
M & E Consultants: Isherwood Boyd & Partners