The owners of the pub site and the western suburbs property now face a new fine of more than $750,000.

The asbestos was found by the Environment Protection Authority, after a tip off to its pollution hotline.

The waste was found at 93 Furlong Road, Cairnlea, a statement from the authority said on Wednesday night.

That property is owned by Stefce Kutlesovski and Raman Shaqiri's Cairnlea Pty Ltd. The pair's company took ownership of the western suburbs land only 10 weeks ago.

There are plans to build almost 200 apartments on the site. The developers' website spruiks the Havenlea project as an "architectural oasis in the heart of Cairnlea, [which] offers a new level of affordable luxury in Melbourne's west".

They also owned the Corkman Irish Pub, paying $4.76 million for it last year - before demolishing the 159-year-old pub, previously known as the Carlton Inn, on October 15.

The illegal demolition of the pub – which had a heritage overlay but was demolished without planning or building permits – has sparked community anger, with a petition demanding its reconstruction now with almost 18,000 signatures.

The EPA's Daniel Hunt said the authority had taken samples of the waste at the Cairnlea site on Tuesday, and that tests had confirmed asbestos was present.

A notice will now be issued to the site's owners requiring them to cover the waste to prevent any dust leaving the premises and affecting nearby houses.

A similar notice from the authority forced the Carlton site owners to cover asbestos, loose rubble and building waste there – although the tarpaulins were weighed down only with bricks that quickly blew off in high winds.

The authority is also about to issue a new $7500 fine to the Carlton site's owners for failing to adequately cover the debris. The authority's statement said its officers had inspected the site and found the covering that had been installed was ineffective.

It has ordered Mr Kutlesovski and Mr Shaqiri's company to erect signs around the boundary of their Cairnlea property advising asbestos was present, and to wet the waste to stop asbestos fibres leaving the site until a cover is installed.

Mr Hunt said those found guilty of dumping construction and demolition waste, or permitting its illegal disposal, faced a fine of up to $758,350.

He thanked the person who had tipped the EPA off to the illegal asbestos and building waste dumping.

"[It] really demonstrates the value of community reporting," he said. "It may have taken us much longer to find the waste without that valuable information."

On Tuesday night The Age rang a mobile phone number listed by Mr Shaqiri under his building and demolition licence permit issued by the Victorian Building Authority.

It was also previously listed as his mobile phone number on one of his company's websites. The man that answered the phone insisted he was not Mr Shaqiri.

Previous attempts to contact Mr Shaqiri and Mr Kutlesovski since the Corkman Irish Pub's demolition have failed.

Asbestos and building waste from Carlton's Corkman Irish Pub was found dumped at the Cairnlea property in the right of this photo. The Cairnlea site belongs to the same owners as the Carlton property. Photo: Nearmap