Retired AC/DC guitarist Malcolm Young and his wife, Linda, have reportedly purchased a AU$10 million waterfront home in the Sydney suburb of Palm Beach.
The Daily Telegraph reports the five-bedroom home is on an absolute beachfront site of about 520sq m and is among many multimillion-dollar properties in the street.
The sale is the biggest on the northern beaches this year.
Palm Beach is Sydney's northernmost stretch of sand, a 50-minute drive from the Sydney city centre.
Malcolm formed AC/DC with brother Angus in November of 1973.
On April 16, 2014, AC/DC first issued a statement regarding the band’s status and future in the wake of rumors surrounding Malcolm’s health and the band’s possible retirement.
“After forty years of life dedicated to AC/DC, guitarist and founding member Malcolm Young is taking a break from the band due to ill health,” posted the band. “Malcolm would like to thank the group’s diehard legions of fans worldwide for their never-ending love and support.”
“In light of this news,” they added, “AC/DC asks that Malcolm and his family’s privacy be respected during this time. The band will continue to make music.”
The group later announced the guitarist’s retirement while confirming that he had been diagnosed with dementia.
A report in September indicated Malcolm was receiving full-time care for dementia in a nursing home facility in Sydney's eastern suburbs specializing in the health issue.
AC/DC moved forward last spring, brought in nephew Stevie Young and released “Rock Or Bust” in December.
The band will launch their 2015 live dates at Coachella on Friday April 10 and Friday April 17 before opening a European tour in Arnhem, Netherlands on May 5.
A North American run starts August 22 at Gillette Stadium in Foxborough, Massachusetts.
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