THE site of the former Ambassador Hotel function centre is being advertised as being for sale again.
KBL Commercial has listed the 325 Nepean Highway site, zoned Commercial 1, for sale as a “development site” with “plans and permits for 37 apartments, six 1 bedroom, 27 two-bedroom and four 3-bedroom apartments”.
Mortgagee Jack Gringlas, of the Jadig Group, has been trying to sell the site since February for about $2.5 million after successive plans by prospective property developers fell through.
Mr Gringlas had the function centre, long regarded as an eyesore by Frankston councillors and a magnet for drug dealers and users, demolished earlier this year.
Council has extended the planning permit for the construction of a residential apartment building at the 2,232 square-metre site at the 325 Nepean Highway site until January 2018.
