Live Nation Australia has cut the asking price – and added more land – to the site near the Great Ocean Road of the once-iconic Falls Festival, after failing to sell the Lorne property two years ago for $4 million.

The once-blaring main stage still stands, while toilets, shower sites and all-weather outdoor power points dot the 59-hectare site that the local arm of the entertainment giant has put back on sale for $2.5 million – and to which it has added 9.5 hectares in two adjoining lots.