Malibu's newest residents

Gwyneth Paltrow and Chris Martin at the 2014 Golden Globes

Malibu meet your new neighbors!

Oscar-winning actress Gwyneth Paltrow and her husband, Coldplay front man Chris Martin, have reportedly purchased a beach estate for $14 million, according to Real Estalker.

There is talk about how the couple plans to sell their massive 33-room mansion in the Belsize Park area of London and permanently relocate to Los Angeles. In the summer of 2012, the two paid $9,950,000 for an 8,000 square-foot mansion in the Mandeville Canyon area in California.

Yet, even after this purchase, the two continued to shop around for a beach house in the celebrity-packed Point Dume area of "The Bu". This 3,650 square-foot home features 4 bedrooms and 3 baths, and some of its closest neighbors include fellow actress Julia Roberts, jazz saxophonist Kenny G, comedian Don Rickles, and Red Hot Chili Peppers drummer Chad Smith.

This ocean-view beach house was designed by architect John Lautner and was built in the early 1970s. But this house is anything but a 1970s stereotype. The house has an open-concept living space area that includes a large, ocean-view living room with paneled walls, a window-wrapped ocean-view dining area, and an angular kitchen with granite countertops. The house also features a 50-foot pebble stone swimming pool, a lighted tennis court, a fitness room and yoga studio, an outdoor kitchen, and access to private Little Dume Beach.

In addition to their London mansion and growing real estate holdings in California, the two also own several homes on the East Coast, including a 3.5 acre estate in Amagansett, NY, a penthouse in the TriBeCa area of Manhattan, and a second apartment on a lower floor in the same New York City complex.

For the newest residence, Paltrow is said to bring in Windsor Smith to redecorate the property. Smith, who decorated the Mandeville Canyon house she bought in 2012, is said to bring a touch of decadent whimsy and glitzy glamour to the glassy post-and-beam residence.