Michael Jackson’s Neverland on sale for $100 million
Colony Capital has listed Michael Jackson’s famed Neverland Ranch for $100 million, almost six years after the King of Pop’s death in June 2009.
Neverland, the sprawling California ranch that was once the location of “King of Pop” Michael Jackson’s mind-boggling amusement park, is up for sale for $100 million, realtors said Friday.
The late star built up his Neverland Ranch on 2,700 acres outside Santa Barbara to include zoo animals, numerous amusement rides and lavish gardens. It has 22 buildings, according to the Wall Street Journal.
The animals have been removed, save for a single llama, and the property has changed hands and is now called the Sycamore Valley Ranch.
An online property listing included pictures of the Normandy-mansion property with pools and fountains, bridges and a decorative shrubbery with the name “Neverland” spelled out above a beflowered clock face.
An investment firm renovated the property and several real estate agents are looking for a buyer at the listing price of a cool $100 million.
But experts said the sellers may struggle to reach their asking price, because of the property’s former owner’s tainted reputation.
“There is obviously a lot of affection for him and his talent,” Randall Bell, a specialist in valuing stigmatized properties, told the Los Angeles Times.
“But it’s hard to get by the fact that Neverland is closely associated with child molestation. I think $100 million is very optimistic,” he said.
Jackson was never found guilty in court, but the charges engulfed Jackson in the mid-2000s before the singer songwriter died in 2009.
The property was bought around six years ago for $22.5 million by Thomas Barrack Jr.’s Colony Capital, according to the LA Times.
The property includes a massive six-bedroom main house, a movie theatre and stage. Jackson, considered by some to be the greatest pop artist of all time, wrote some of his top hits on the ranch.
The WSJ reported that tours of the property will not be given.