Michael Jackson’s Neverland Ranch, now called Sycamore Valley Ranch, is up for sale for $100 million.
Michael Jackson’s Neverland Ranch is on the market with an asking price of $100 million. The former Neverland Ranch, which has been renamed Sycamore Valley Ranch, is being sold by the Estate of Michael Jackson. The 2700 acre estate, located in California, was once notorious for both its fantastical theme park installations and for the extensive searches which were carried out when Jackson was accused of molesting a minor in 2003.
Michael Jackson photographed in 2008, a year before his death.
Many of the fantastical features Jackson famously installed, including an amusement park and a menagerie of exotic animals, are no longer in place after the estate was completely redeveloped last year. However, a private train station and train tracks, constructed during Jackson’s residence, are still usable. According to WSJ, other features of the property include: a fire station, a floral clock spelling out Neverland, a 50-seat movie theatre, two lakes, basketball and tennis courts and a stage specially designed for magic shows.
Jackson, who died in 2009, bought the estate from golf entrepreneur William Bone in 1988. He paid $19.8 million for the property but struggled financially and, shortly before his death, he defaulted on a loan on the Ranch. He was bailed out by Colony Capital, which now owns a substantial stake in the property. Jackson lived at Neverland Ranch until 2003 but moved after his trial for child molestation. The Ranch, although still belonging to Jackson at the time, was closed in 2005 and the majority the staff let go.
The asking price of $100 million is expected considering the size of the property but some realtors, speaking to the L.A. Times, claim it is overly optimistic. Although many think fondly of Jackson, the property is associated with child molestation.