Got a spare $480K? You can now buy an 'Iron Man' jetpack

A new jetpack on sale at a UK luxury department store hints at the possibility that Iron Man could soon be more than just a comic book character.

But the device, created by former commodities trader Richard Browning, doesn't come cheap.

Retailing at Selfridges for a cool £340,000 (NZ$480,000), this product is reserved specifically for the Tony Starks of the world.

Browning contraption, which worn as a bodysuit, has been some time in the making, attracting significant investment from Silicon Valley.

The suit weighs 27kgs and can fly at altitudes of 12,000 feet at a top speed of around 50km/h.

It's powered by five gas turbine engines, which are fixed to the arms and back of the carbon fibre suit.

Given that few have been fortunate enough to have any experience in using a jetpack, the purchase price includes a mandatory training session on how to fly and manoeuvre through the air.

The fuel reserves on the jetpack allow for only four minutes of flight time - which a tech writer at Geekologie noted was probably only enough to reach 11,264 feet before hurtling back down to earth.

Browning said he is currently also working on another version of the jetpack capable of reaching up to 9 minutes of flight time.