Neverland Ranch, the former home of Michael Jackson, has gone on sale for $100 million, according to reports on The Wall Street Journal.
The 2,700-acre ranch, which is located in Santa Ynez Valley, Santa Barbara County, California, was Jackson’s famed fantasyland. It is home to various luxury amenities including two lakes, a 50-seat movie theater and a train station.
Although various portions of the property, such as the small amusement park and zoo, have been removed, the WSJ reports that the floral clock, which spells out “Neverland,” is still there, as is the building that once housed the “Neverland Valley Fire Department,” although it’s no longer staffed by full-time firefighters.
Michael Jackson originally paid in the region of $19.5 million for the property in 1988. He went on to live at Neverland for around 15 years however following his 2005 acquittal of child molestation charges (which allegedly took place at Neverland), the King Of Pop distanced himself from the iconic property. He ultimately decided to take up residence elsewhere in the world up until his death in 2009.
In 2008, amid his rather public financial troubles, the real-estate investment firm Colony Capital LLC bailed out the King Of Pop after he defaulted on a $24.5 million loan that he owed on the property. The company reportedly spent millions on upgrades, with the intention of eventually selling it.
Real estate developer William Bone built the ranch in 1981, originally naming it Sycamore Valley Ranch. Suzanne Perkins of Sotheby’s International Realty (who shares the listing with Harry Kolb of Sotheby’s and Jeffrey Hyland of Hilton & Hyland), says that the property has since adopted its original name meaning it is no longer dubbed Neverland.
But, just because it’s for sale don’t think you’ll be able to get a free tour anytime soon. The agents in charge of the listing will be doing “extensive prequalification” of prospective buyers before permitting any form of visitation.
“Our seller is not encouraging a lot of showings,” Mr. Hyland said. “We’re not going to be giving tours,” Ms. Perkins added.
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Continue reading Michael Jackson’s Neverland Ranch Goes On Sale For $100 Million
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