Cindy Crawford and Rande Gerber have reportedly purchased a $10 million waterfront home in Miami Beach.

Rande Gerber and Cindy Crawford

Rande Gerber and Cindy Crawford

The 54-year-old supermodel and her businessman husband, 58, are believed to have splashed out on the midcentury-modern house, which is situated in Miami Beach, Florida, on a stretch of land that’s a known favourite among celebrities.

According to a real estate source - who reported the news to People magazine - the couple spent $9.6 million on the property, which has five bedrooms, four and a half bathrooms, and almost 4,000 square feet of living space.

The property was built in the 1950s and sits on a lot with more than 100 feet of water frontage.

Esther Percal of Berkshire Hathaway HomeServices EWM Realty was the buyer's agent, while Mirce Curkoski and Albert Justo of One Sotheby’s International Realty served as listing agents.

The news comes nine months after the sale of a home Cindy and Rande own in Malibu, California, reportedly fell through, after the buyers - who were set to close a $6.5 million sale on the property - pulled out amid the coronavirus pandemic.

Cindy and Rande reportedly told the potential buyers that there would be no issues with canceling the sale of the home and the pair returned the deposit.

And now that they’ve bought a new home, the couple will likely take some time to decorate the interior, as they both have specific needs when it comes to their home furnishings.

Speaking about buying a new couch in 2019, Cindy - who has Kaia, 19, and Presley, 21, with Rande - explained: "My husband is very, very picky about the cushion density and seat depth because he's taller. 

"We've got it down now. We know the dimensions we like, so sometimes we just change the body style."