With a price tag of $6.88 million, you'll get spectacular views of Melbourne's CBD and Port Phillip Bay from 195 metres above Collins Street at the Collins House penthouse. Located on the 56th floor of the tower, the two-storey penthouse will come with three bedrooms, three bathrooms, a study and double-height living area encased in floor-to-ceiling glass.

Located at 466 Collins Street, the $200 million tower is being built by developer Golden Age Group in conjunction with Asian Pacific Group, the team behind the Art Series Hotels. Architectural practice Bates Smart has designed the tower, which will measure only 14 metres wide and is set to be completed in 2018.

Collins House will have a total of 263 apartments, including four half-floor sub-penthouses on level 54 and 55, with prices starting at $3.5 million. 

Golden Age Group managing director Jeff Xu said the luxury apartments had been developed to meet market demand among families. "Families want to live in Melbourne’s CBD but there is a lack of stock large enough to cater for this demand," said Xu. "There has been a focus by the market on providing affordable smaller apartments to address affordability and stock issues. Now that these projects are coming to market and being snapped up by singles, couples, investors and owner occupiers, the family segment is emerging. Melbourne will start to see the creation of larger format apartments to cater for this demand."