Neverland Ranch for Sale

29 May 2015 | Author: | No comments yet »

Michael Jackson’s Neverland ranch is coming on the market for $100M.

And the Los Olivos property, once beloved for its amusement park rides, including a Ferris wheel, a resident elephant and neatly landscaped gardens, has been renamed as “Sycamore Valley Ranch,” according to the Wall Street Journal, which first reported the listing. The 2,700-acre estate has a massive main house with six bedrooms and 21 other structures, including a building that used to house the so-called “Neverland Valley Fire Department” and two guest houses. 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. Jackson snagged the ranch for just $19.5 million in 1987 from William Bone, a golf course mogul, and lived there until 2004 when the cops raided the place as part of an investigation into his alleged sexual misconduct with minors. 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 estate.

The seller of the property is the investment firm Colony Capital, which bought out the late King of Pop’s $23 million mortgage on Neverland in 2008 when the singer was facing foreclosure at the property. Perkins promises however, if an MJ 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. The agents have stressed however, this is not a chance for fans to see their idol’s home as they will require ‘extensive prequalification’ of potential buyers as ‘we’re not going to be giving tours’. 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.

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. The dancer, who has worked with Britney Spears and on So You Think You Can Dance claimed he was abused over a seven year period and did not realise the damage the molestation had caused until he had a pair of nervous breakdowns.

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