Micheal Jacksons Neverland Ranch is Back on The Market
Michael Jacksons, sometimes infamous Neverland Ranch is reportedly back on the property market after suffering from a 70% price cut. The 2,700-acre site, which Jackson purchased in 1988, was transformed by the king of pop into an ideological fantasy land and became one of the most well-known properties of the 1990s.
The neverland ranch in its most active years hosted a range of extravagant attractions including theme park rides, a working train station and exotic animals. The ranch was an object of fascination for celebrities and the public alike with 14-year old Kim Kardashian holding her birthday party there several years ago. The ranch, which underwent extensive renovation by Jackson, was initially purchased for just over $19 million in the hills of California and was said to be inspired by Peter Pan and Disney characters.
Although the theme-park like attractions have diminished over time, original features of the ranch still stand. The ranches 2,598-square-foot French-Normandy style residence encompasses a classic, sophisticated style and is the central focus of the site. Other attractive features of the ranch include ive bedrooms and eight bathrooms, two guesthouses, a four-acre lake, a 50-seat movie theatre, a tennis court, a 14-foot lagoon-style pool, a dance studio, barns, and separate staff facilities.
Now owned by private investment firm Colony Capital, the ranch was first listed for $100 million in 2015 but failed to sell. The site was then reduced and rebranded, now called Sycamore Ranch, was again listed in 2017 but for $67 million. Finally, in 2019, the Sycamore Ranch has suffered a major price cut of 70% from its original listing, with a, still healthy, price tag $31 million (£23.5m). It remains to be seen whether the significant reduction in listing price will help to sell the ranch with the property being at the forefront of recent media coverage regarding surfacing child abuse allegations against Jackson.