CBRE tips $2.5 million loss for Stellar's St Kilda Greyhound Hotel site offering

St Kilda’s former Greyhound Hotel razed site has been listed for November 22 auction.

CBRE has been appointed by failed developer Steller’s receiver KordaMentha.

Steller bought the 911sq m corner site at 1 Brighton Road for $7.5 million in 2017.

It has three street frontages with permit approval for a seven-level building with 34 apartments and three shops.

Set opposite St Kilda Town Hall, CBRE’s Mark Wizen told the Herald Sun he expected to attract offers “in excess of $5 million”.

The 163-year-old pub was demolished despite a bid for heritage protection.

Its Art Deco-style facade which was built over the original in the 1930s disqualified the venue from heritage listing.