Neverland, the sprawling California ranch that was once the location of “King of Pop” Michael Jackson’s mind-boggling amusement park, is up for sale at US$100 million.
Realtors recently said the price tag is “optimistic,” given the unproven charges of child molestation which tainted Jackson’s final years before his death in 2009.
The late star built up his ranch on 2,700 acres outside Santa Barbara which included zoo animals, numerous amusement rides and lavish gardens. It has 22 buildings, according to the Wall Street Journal.
All the animals have since been removed except for a single llama, and the property has changed hands to become the Sycamore Valley Ranch.
An online property listing included pictures of the Normandy-mansion property, complete with pools and fountains, bridges and decorative shrubbery with the name “Neverland” spelt out above a be-flowered clock face.
An investment firm renovated the property and several real estate agents are looking for buyers at the listing price of a cool US$100 million.
Meanwhile, experts said the sellers may struggle to reach their asking price because of the former owner’s tainted reputation.
“There is obviously a lot of affection for him and his talent,” Randall Bell, a specialist in valuing stigmatised properties, told the Los Angeles Times.
“But it’s hard to get by the fact that Neverland is closely associated with child molestation. I think US$100 million is very optimistic,” he added.
The property was bought around six years ago for US$22.5 million by Thomas Barrack Jr.’s Colony Capital, according to the LA Times.
The property includes a massive six-bedroom main house, movie theatre and stage.
The Wall Street Journal reported that tours of the property will not be given.
Farah Wahida, Editor of PropertyGuru Malaysia, edited this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
