Less than six weeks after ATO staff moved in late 2012, the seven-storey building was sold by developer David Harper’s Volt Lane Pty Ltd to CorVal Partners for $48 million.

CorVal Partners are a Sydney-based property fund and have decided to sell the Albury building.

The pending sale was confirmed by the ATO.

“The ATO has been informed by the owner of the ATO Albury premises that it was commencing the sale of the Smollett Street building,” an ATO spokesperson said.

“This is a normal real estate transaction and is wholly at the discretion of the owner.

“The potential sale of the Albury office in no way reflects on or has any bearing on the ATO’s tenancy in this site.

“The ATO lease on the Albury office extends to 2027.”

Other ATO sites in Melbourne and Adelaide have sold recently.

The ATO occupies more than 90 per cent of the total lettable space in the Albury building.

The 2012 deal was brokered by Colliers International and attracted global interest.

Earlier this year, the ATO announced paper processing work carried out at the Albury office will be outsourced from September.

The ATO vowed to work with about 63 permanent Albury staff over the next year to move them into alternative jobs as the paper processing function was wound down.

Mr Harper’s building arm, the Doma Group, purpose-built the property for ATO employees with a 5-star green rating.

Retail outlets are beginning to fill up the ground floor area.

The combined annual rental of the tax office and ground floor tenancies is more than $4 million.

Mr Harper also developed ground floor retail area and multi-deck car park as part of the overall $53 million redevelopment of the area.

​A $30 million hotel will be built next door to the ATO office which will create more than 200 building construction jobs when building starts.

The hotel, when completed, will be managed by the Accor Hotel Group.

It will include 120 rooms on seven floors and employ 30 permanent staff.