Neverland Ranch, which failed to find a buyer after the King of Pop’s death, is being reintroduced to the market, with a giant price cut and a new name. The property, which has been saddled with the more homogenized moniker “Sycamore Valley Ranch,” carries a $67 million price tag. That’s a $33 million drop from the original asking price two years ago.
While it no longer has some of its iconic features, Neverland (yeah, we’re gonna keep calling it that — sorry, Coldwell Banker) is still a unique piece of property. Located about 30 minutes from downtown Santa Barbara, California, it spans 2,700 acres and includes a mountain on the grounds that Jackson named after his mother. The estate boasts live oaks that are more than 100 years old and borders the Los Padres National Forest.
There’s also a movie theater that seats 50, a dance studio, a pool, a 5,500-square-foot, four-bedroom guesthouse, as well as a train station and train tracks. (Sadly, you’ll have to supply your own train.)
As for the main house itself, it’s opulent. The French Normandy-style manor was designed by architect Robert Altevers and built in 1982 and measures 12,598 square feet. Among the amenities are five fireplaces, five bedrooms and six full and two half-baths. The flooring is 18th-century French oak parquet from two chateaus in France. The master wing on the first floor includes two walk-in cedar-lined closets and a private garden.
There’s also a barn that was originally built for Clydesdale horses. (Hopefully, your train won’t spook them).
Jackson bought Neverland Ranch in 1987 for $19.5 million. He lived there for 15 years. Real estate investment firm Colony Capital purchased the ranch from Jackson shortly before his death in 2009 when the singer was in default on a loan.
“We look forward to this magnificent property being enjoyed by a new curator,” Rey said in a statement. “This quintessential California estate is now ready for the next chapter in its journey.”
By 2015, the California ranch of Michael Jackson had been put up for sale at a price of $ 100 million. Today, it has still not been bought and the price has been lowered by 33% to increase the chances of selling the huge property of the star. A discount that certainly would not have liked the singer …
In 2015, the Sotheby’s agency was responsible for placing the Neverland property on the market.
Buying by Michael Jackson
It was in the 1980s that Michael Jackson had cracked for this property of 2700 hectares for the sum of 19.5 million dollars. But after a failure to pay, he was forced to resell his property to Colony Capital, which had bought $ 22.5 million. She then invested several million to renovate the ranch and increase her value for a future sale. A year later, at the death of the singer, the personal belongings of it were removed from the property.
A dream property
The property is located in Santa Barbara County, California. It has 16 bedrooms, 29 bathrooms, a 50-seat theater and a dance hall. The house is surrounded by an amusement park inspired by the world of Peter Pan. It was on this property that the star had composed most of her hit songs. It was also this property that had been the target of criticism at the time when the scandals on Michael Jackson broke out because it was here that he invited children to visit his amusement park. It is recalled nevertheless that the star had been acquitted in 2005.
The reputation of the house seems to be a problem for the sale …