Michael Jackson ranch up for grabs for US$100 mln

May 29, 2015 14:48
Neverland has been renamed and many of its Michael Jackson-era features are gone but the iconic floral clock (above) remains. Photo: Internet

Neverland, a California ranch once owned by Michael Jackson, is up for sale for US$100 million.

The property sprawls across 2,700 acres in Los Olivos, about 40 miles from Santa Barbara, and includes 22 buildings, the Wall Street Journal reported Friday.

It has been renamed Sycamore Valley Ranch but retains some of its Jackson-era features including the iconic floral clock and firehouse, although it is no longer staffed.

The amusement park rides are gone as are the orangutans and elephant, although there is a llama on the property, agents said.

The railroad tracks and train station created at Jackson’s behest are still there.

The ranch is dominated by a Normandy-style main house, which sits between two lakes and covers about 12,000 square feet. It has six bedrooms plus an attached staff quarters.

There’s a four-bedroom guesthouse near the main home and a two-bedroom guesthouse.

A swimming pool with a cabana, a barbecue area, basketball court and a tennis court are added amenities, along with a 50-seat movie theater which has a private viewing balcony, and a stage that includes trap doors for magic shows.

Jackson paid US$19.5 million for the ranch in 1987 and lived there more than 15 years.

Amid financial struggles, he defaulted on a US$24.5 million loan backed by the ranch.

Real-estate investment firm Colony Capital bought the note in 2008 for US$23 million and put the title into a joint venture with the pop star.

Colony spent millions on upgrades, intending to eventually sell it.

-- Contact us at [email protected]