Melbourne developer Sterling Global has unveiled 623 Collins, a 42-storey mixed-use tower set to transform one of the city’s most historically significant sites. Rising from the former State Savings Bank of Victoria, the project blends contemporary residential living with heritage preservation, marking a new chapter for Collins Street.
Designed by Plus Studio, the $590 million project will deliver 320 residences, with two-bedroom apartments making up 50 per cent of the mix. Four distinct collections — Heirloom, Signature, The Reserve and The Penthouse — will span levels 1 to 42.
Two heritage-listed buildings, the State Savings Bank of Victoria (1924) and the Batman’s Hill Hotel, will be retained, restored and integrated into the development. The original banking chamber will be refurbished to accommodate a future restaurant, reinforcing the site’s civic and cultural legacy.
Alongside its residential offering, 623 Collins will incorporate over 2,700sqm of office space across five levels, plus 900sqm of retail and hospitality fronting both Collins and Spencer streets.
Residents will enjoy more than 800sqm of high-end amenities on level six, including a pool, outdoor terrace, private dining spaces, a library, gym, yoga studio, games room and The Bathhouse — a wellbeing retreat featuring a sauna, spa, steam room and cold plunge. An additional suite of exclusive amenities on level 38 will offer residents of The Reserve and Penthouse Collection access to a lounge, whiskey bar, private dining, and terrace entertaining.
The interiors throughout 623 Collins, including the ground-floor residential lobby, have been designed by acclaimed interior designer Fiona Lynch. Her artful aesthetic shapes the project’s material palette, establishing a refined design language that carries from arrival through to the residences above.
Sterling Global Development Director Brandon Yeoh said 623 Collins Street marks the start of a new chapter for one of Melbourne’s most historically and commercially significant addresses.
“Melbourne is at a pivotal point in its growth; demand for inner-city living continues to outpace supply, which makes it all the more important to deliver projects that are designed with longevity in mind.
“At 623 Collins, we’ve taken a heritage building that has been part of Melbourne’s story for a century and reimagined it for modern living. While new towers will continue to rise across the CBD, buildings with genuine heritage fabric and craftsmanship remain rare and ultimately, that carries not only lasting value for residents, but for the city itself,” he said.
Plus Studio Director Ian Briggs said the vision for 623 Collins was to create architecture that serves both the site’s rich history and Melbourne’s future growth.
“Our design approach has been to connect the building closely with its context – a podium that contributes to the streetscape, planted terraces that articulate the transition between heritage and new, and a tower that takes its place on the skyline with clarity and restraint. Partnering with Sterling Global on a site of this significance is a privilege, and we’re excited to see the project become part of Melbourne’s evolving story.”
Sterling Global purchased the 2000sqm amalgamated site in 2023 and secured an amended planning permit last month.
To register your interest ahead of the global launch, please visit https://register.623collins.com/.
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