As with all main streets in the Melbourne city centre, the Hoddle Grid is exactly 99 feet wide[3] which would allow for the installation of trams in 1885.

The street was named for Lieutenant-Governor David Collins who led a group of settlers in establishing a short-lived settlement at Sorrento on the Mornington Peninsula, south of Melbourne, in the early 19th century.

[5] The first major street improvements were carried out in the mid-1850s, including bluestone curbs and gutters, and the introduction of gas lighting in 1855.

[1] Many of the buildings destroyed in this era were documented by architectural photographer Mark Strizic and can be found in the archives of the State Library of Victoria.

The old Commercial Bank of Australia Limited domed Chamber exists within the postmodern 333 Collins Street tower.

It still stands in near original condition, a handsome but narrow fronted five storey commercial building with a fine grained street level shopfront currently leased by Bally.

The Bank of New South Wales Melbourne building, completed in 1857, earned architect Joseph Reed a first prize in architecture.

[12] Collins Street is Melbourne's premier shopping street and retailers with flagship stores there include: Prada,[13] Louis Vuitton,[14] Moncler, Tiffany & Co,[15] Bulgari,[16] Giorgio Armani, Dior, Bottega Veneta, Saint Laurent, Balenciaga, Celine, TAG Heuer,[17] Paspaley, Cartier,[18] Gucci, Ermenegildo Zegna, Burberry, Bally,[19] Max Mara, Hermès, Dolce & Gabbana, Christian Louboutin, Fendi, Jimmy Choo, Versace, Golden Goose, Berluti, Breitling, Fred, Chopard, Hugo Boss, Van Cleef & Arpels, Omega, Jaeger-LeCoultre, Georg Jensen, Rolex, Loewe, Longchamp, Aesop, Longines, Anthony Squires, Hardy Brothers, Jan Logan, Bremont, Montblanc, Miss Louise and Franck Muller.

The Liberal Party of Australia's Victorian division is located within Emirates House at 257 Collins Street.

Similarly, most global financial institutions with a presence in Melbourne, such as Goldman Sachs and Lazard, have their headquarters located on Collins Street.

[20] Collins Street has been a popular stop over for local ghost tours, with a number of apparent sightings especially around the historical Docklands area.