Prince Harry and Meghan Markle are once again on the hunt for a new abode — and this time they’ve set their sights on a slice of Malibu paradise where a brand-new mansion is poised to grace the enclave’s prime shore.

Sources with direct knowledge of the situation have revealed to TMZ that the couple spent part of their recent holiday weekend exploring an $8 million plot of land there. The estate spans nearly 6 acres and boasts a gated entrance with a guard house, a substantial pool and the foundations already in place for a sprawling 10,000-square-foot main residence.

Perched above Pacific Coast Highway and affording views of Broad Beach, the property exudes seclusion and privacy, with a long driveway leading up to the future main house. This aura of exclusivity reportedly appealed greatly to Harry and Meghan.

The asking price for this coveted piece of Malibu real estate stands at $8 million, and plans for the main house have already secured approval, with a construction crew standing by. Should the pair decide to acquire the lot, they would be responsible for the estimated $10 million in construction costs.

Harry and Meghan presently reside in a $14 million mansion in Montecito, a considerable distance from the glitz and glamour of Hollywood. The Malibu property, however, is situated a mere 13 miles from the celebrity hotspot of Nobu, and less than an hour’s drive from Los Angeles and Beverly Hills.

Insiders have suggested that Harry and Meghan are contemplating selling their Montecito home in favor of a full-time move to Malibu. This strategic relocation would place them in close proximity to Hollywood for professional endeavors, while affording them the security and privacy they crave.

Brendan Brown at Westside Estate Agency is said to represent the property.