It is touted as the largest billboard in the southern hemisphere and reportedly costs about $250,000 a month to rent – but the giant sign greeting Anzac Bridge motorists is an eyesore and should be torn down, the City of Sydney says.

The billboard, which spans the heritage-listed Glebe Island silos, was erected in the 1990s to help promote the Sydney Olympics bid, but has remained there ever since.

The advertising billboard at Rozelle, touted as the biggest in the southern hemisphere. Credit:Peter Rae

It is purportedly seen more than two million times a month – often by captive motorists stuck in traffic.

Now, the advertising company that leases the space from the state-owned Port Authority of NSW wants permission to keep the billboard in place for another seven years.