The distinctive stainless steel feature will be situated on the highest point of the building at the corner of Dean and Kiewa streets in the same spot a globe previously sat from the post World War II period to the mid-1960s when the pub's verandah was demolished.

The development application has been submitted by Habitat Planning on behalf of the Globe Building owners, Peppe Property Investments with the works, estimated to cost $1.3 million, one of the biggest upgrades to the building's history dating back to 1860 when it opened.

Owners want to undertake alterations and additions to the "Globe Corner" including refurbishment and repair works, consolidation of individual tenancies to make them larger and more useable, and ensure it meets present day building code requirements.

There are no works proposed for the first floor of the building except for exterior painting.

It is largely unoccupied after suffering fire damage in 1989.

Works will be staged and will begin with the corner tenancy, formerly occupied by The Border Mail, and the Dean Street frontage heading west.

They will be followed by footpath works and the construction of the new garden bed along Dean Street.

Latter stages include the Kiewa Street frontage heading north.

Each stage includes facade works, shopfront replacement and awning upgrades.

Remaining occupied tenancies contained within the building will be temporarily relocated to another tenancy while works are being undertaken.

Works will be carried out Monday to Saturday between 7am and 5pm and are estimated to take about six months.

"The proposed works have been undertaken in accordance with the recommendations of a heritage advisor and seek to restore and refurbish the 'Globe Corner' to ensure that this important local heritage item is protected and maintained ongoing," the development application states.

"The subject land is a highly prominent site and the works have been designed to be sympathetic and to enhance the heritage values of the area.

"It supports the main commercial area of Albury and will have a positive social and economic impact through the creation of new tenancy spaces."

Former guests of the original two-storey hotel built by John Roper included Governors, Nellie Melba and General Douglas MacArthur.

Ivan Peppe bought the building in late 2018.