Michael Jackson’s Neverland Ranch Hit The Market With A $50 Million Price Tag

 

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Are you a Michael Jackson fan with millions in bank accounts? If so, here is your chance to live at King of Pop’s favorite home – Neverland Ranch. Bought in 1988 at the height of his fame, the property sits on 2,800 acres and consists of 22 buildings. In 2005 Jackson moved out of the expansive estate located 130 miles north of Los Angeles in Santa Ynez, California. With Jackson heavily in debt, in 2008 he sold it to a private investment for $23.5 million. Colony Capital who owns the property expect it to sell for around $50 million, they’ve also re-named the property as Sycamore Valley Ranch.

For $50 million you’ll get guest houses, a movie theater, apartments and a relaxing Zen garden. During Jackson’s time one of its most famous features was the Peter Pan inspired fairground that had a Ferris wheel, swings and rides. Zen garden now replaces the fairground and its rides have been removed by Jackson’s children last year as part of the restoration project. Also gone from Neverland are the exotic snakes, elephants, chimpanzees and the candy shop.

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Thomas Barrack Jr of Colony Capital told Bloomberg “We’ve really just been custodians of an irreplaceable estate and are proud to say we’ve restored it to the original elegance Michael first envisioned. We are now considering putting it up for sale.”

In a statement Michael Jackson’s family said “we hope and trust that any new owners of Neverland will respect the historical importance and special nature of this wonderful property. Michael’s memory lives on in the hearts of his fans worldwide.” They don’t however plan to buy the ranch back and noted it would be a huge expense for the Jackson estate.

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Source: Business Insider