It was once the Michael Jackson sprawling PeterPan-inspired estate but now, most of the attractions are gone and it is up for sale for whopping $100 million.
NBC’s “Today” show shared a rare tour of the King of Pop’s Neverland in Santa Ynez Valley, California.
Kyle Forsyth of Colony Capital told the “Today” show correspondent Joe Fryer: “Michael’s vision was to take the ranch back to its natural setting and to sell the ranch eventually. So we’re just following through with our original vision.”
See “Today” show tour at Neverland Ranch below
According to the “Today” show, there is a thorough screening process for potential buyers just to be allowed to see the ranch.
The buyer will be free to alter the property as he or she sees fit, but Colony Capital hopes that it will be someone with an appreciation for its history.
“We still have an affinity for Michael and a deep respect for Michael’s legacy,” Forsyth said.
Jackson bought the 2,700-acre ranch in 1987 for $19.5 million and turned it into a Peter Pan-inspired amusement park, complete with rides and live circus animals. It even had rollercoasters and Ferris wheels at the time.
In 2005, the ranch was the site of child molestation accusations against Jackson, who was charged and acquitted. The pop singer abandoned the ranch after child molestation accusations surfaced.
Colony Capital bought the property from Jackson for $22.5 million before his death in 2009 when he was in default on a loan. It has been renamed the Sycamore Valley Ranch.
The company is now selling it for $100 million, more than four times its price when they bought it, Inquisitr noted.
While the amusement attractions and animals are mostly gone, the 12,000-square acre ranch still has the six-room mansion as its centrepiece. The railroad tracks and train also remain part of the estate, as well as a 50-seat movie theatre, Billboard wrote.