Property tycoon Alex Sekler sells Palm Cove land for $8.8m

A Cairns-based property tycoon has sold a blue ribbon chunk of beachfront land to a Sydney-based company.

A Palm Cove property has sold for $8.8m.

Property tycoon Alex Sekler has sold a blue ribbon chunk of land on the Palm Cove waterfront for $8.8m.

The 1.85ha Triton St block has sold to Sydney based Tong Wang’s Walnut Four Pty Ltd.

Sandwiched between Pullman Sea Temple Resort and Alamanda Palm Cove, records show Lot 4 sold for a whopping $16.5m in 2005 and changed hands again for $7.2m in 2014.

The land — with obvious potential for a resort — has been on and off the market since 2017 with an asking price of $9m.

Mr Sekler, who briefly listed his palatial Kewarra St house for sale last year, has also put a penthouse in Brisbane’s tallest building, Skytower, on the market with no price guide.

Mystery Sydney-based Tong Wang's company Walnut Four Pty Ltd has bought a 1.85ha parcel of beachfront land at Palm Cove. Picture: Supplied

Soaring a dizzying 274sq m into the air, Mr Sekler bought the three-level home for $10.26m in 2020.

Mr Sekler had plans for a $100m resort at Buderim but the development application was cancelled in October.

Liral Investments is creating 10 housing lots on Kewarra St, on the corner of Poolwood Rd, at Kewarra Beach. Bushland has been bulldozed to make way for the development. Picture: Supplied

He bought Malumba Estate in 2021 for $17.1m.

It would have been the Sunshine Coast’s first new resort in 40 years and Buderim’s largest ever development, but concerns were raised about the development.

Cairns property tycoon Alex Sekler. Picture: Stewart McLean

Mr Sekler has a pair of luxury beach houses at Trinity Beach, on the market for $6m and $6.5m apiece, on the market.

Earlier this year, he acquired the historic Cairns Post building on Abbott St for $3m.

Offers of more than $6m and $6.5m apiece are sought for each of two ultra-luxurious beach houses at 1-3 Peacock St, Trinity Beach. The properties built and owned by Cairns-based developer Alex Sekler span three levels and have five bedrooms, each with ensuites, and internal lifts. Picture: Supplied

He is expected to convert the landmark city property into high-end apartments.

Mr Sekler also has a modest Queenslander in a prime spot at 231 Esplanade, Cairns North, which he bought for $2.87m in September 2021, on the market.

It is on a 765sq m block with a development application for three boutique apartments valid until 2026.

He also has a 10-lot development under way on absolute beachfront land at Kewarra St in Kewarra Beach.

Originally published as Property tycoon Alex Sekler sells Palm Cove land for $8.8m