PHOTO: Kim Kardashian and partner Pete Davidson in Far North Queensland to shoot a movie. This recent picture is from Kim Kardashian’s Instagram page

According to realestate.com.au hotel plans have been ditched for Palm Cove’s last remaining patch of beachfront and its Russian-speaking owners are now seeking residential buyers from Melbourne to LA for the $9.5m hot spot.

“This rare absolute beach front home site is perfect for movie stars, astute entrepreneurs or Australia’s top 100 wealthy individuals,” Place Projects’ sales pitch says.

Queensland’s best home site at Lot 4 Triton St, Palm Cove

With Hollywood superstars Kim Kardashian, Pete Davidson and Orlando Bloom already in Queensland’s far north to film the US/Australian comedy Wizards, it’s no surprise that an A-list celebrity has already inspected the spot.

Actor Orlando Bloom working out at a Port Douglas gym ahead of filming for the movie Wizards. This picture is from Orlando Bloom’s Instagram page

The 18,500sq m site at Lot 4, Triton St, Palm Cove is tucked between two of north Queensland’s most prestigious hotel resorts, the Pullman Palm Cove Sea Temple Resort and Spa, and Alamanda Palm Cove.

The executive penthouse at Pullman Palm Cove Sea Temple Resort and Spa was listed for sale last year after begin refurbished, with a price guide of $1.3m-$1.5m.

The property has been on the market for five of the past six years as a future hotel site and DA approval for a Leigh Ratcliffe-designed hotel on the land with its 135m beach frontage is current until 2024.

But Place Projects director Bruce Goddard says demand in the Cairns region has shifted from hotels to private home sites and the property, owned by private Russian-speaking investors who have Australian residency, is now being pitched at the residential market.

“In this day and age, building a five-star resort is a very expensive process so the new thinking is to meet the market where the market is and there is high demand and low supply of beachfront residential property,” Mr Goddard says.

“So to have a group of 25 luxury beachfront villas or even individual lots of land would seem to be the new opportunity. This is 100 per cent where the demand is.”