Michael Jackson’s Neverland to go on sale

29 May 2015 | Author: | No comments yet »

Former home of Michael Jackson up for sale.

The California property that once served as Michael Jackson’s home and personal fantasyland is being listed at $100 million (Dh3.67 million), according to the Wall Street Journal. The 2,700-acre (4.2187 square miles) ranch in Los Olivos, featuring a train station, six-bedroom house and 50-seat cinema, has been in limbo since the singer’s death in 2009. While the theme park rides may be gone (along with Michael’s elephants and beloved monkey Bubbles) the history – both bad and good – remains, and it can now be yours if you have a spare $100million. Named after Peter Pan’s island home, the sprawling ranch had a variety of features and amenities installed by the singer, including a railway station, a six-bedroom house, 50-seat cinema and a pair of lakes.

Listed by Sotheby’s and Hilton & Hyland, most of the telltale signs if its former famous owner have been erased turning the 2700-acre property from a fun park into a grand compound. We’re not going to be giving tours.” The real estate company Colony Capital LLC bailed out the Thriller star in 2008 after he defaulted on the 24.5 million US dollars (£15.9 million) that he owed on the property. Perkins promises however, if a Michael fan does buy the property there are still a few small signs that it was the Neverland Ranch with its train and clock made from flowers that spells out ‘Neverland’ retained and restored.

Despite rumours after Jackson’s death that the hilly property might be transformed into a Graceland-like homage to the King of Pop, Colony Capital has quietly maintained the ranch located about 240 kilometres north of Los Angeles. WSJ reports the home, which is located between the property’s two lakes, is an impressive 12,000-square-feet, with six bedrooms and an attached staff quarters. For some time there have been reports that the home was about to go on the market – it was even claimed the new musical royalty Beyonce and Jay Z wanted to buy it. Investment firm Colony Capital bought a significant portion of the debt in 2008 – a year before his death – to save the home for foreclosing and were working with the star to restore it with the hopes of selling the property. They said in a statement: ‘We are saddened at the prospect of the sale of Neverland which, under the agreement negotiated during Michael’s lifetime, Colony has the right to sell. ‘[We will] continue to build upon Michael’s legacy as an artistic genius and humanitarian through his music and new projects such as the Michael Jackson ONE show in Las Vegas.’ They added at the time: ‘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.’ It is where Elizabeth Taylor married Larry Fortensky in a lavish 1991 ceremony; where Oprah Winfrey famously interviewed Jackson live in front of 90 million viewers in 1993; and it was also where he was accused of molesting young boys.

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