The California property famously known as the Neverland ranch, which served as a personal fantasyland and home for the late King of Pop icon Michael Jackson, has been listed for sale for $100 million, according to the Wall Street Journal.
The property, about 130 miles northwest of Los Angeles, took its name after the island in J.M. Barrie's book Peter Pan, about the boy who never grows up. The 1,100-hectare or 2,700 acre ranch features such facilities as a pair of lakes, a 50-seat movie theater, a train station, and a six-bedroom house.
A decorated floral clock with the letters spelling Neverland in flowers still exists, and so does the fire station that was previously the base of operations for the Neverland Valley Fire Department, although full-time firefighters are no longer in charge of the facility. Nevertheless, the train station and railroad tracks built at Jackson's request are still there.
The Santa Ynez Valley ranch, located around 40 miles from Santa Barbara, is currently known as Sycamore Valley Ranch, according to Suzanne Perkins of Sotheby's International Realty, who shares the listing with Jeffrey Hyland from Hilton & Hyland and Harry Kolb from Sotheby's.
Perkins noted there are about 22 buildings on the property. The Normandy-style main residence, which measures approximately 12,000 square feet, is located at the middle of the property's two lakes and features six bedrooms as well as quarters for the staff. There is a four-bedroom guesthouse close to the main house and another two-bedroom guesthouse situated a bit farther away. There is also a swimming pool with a cabana, basketball and tennis court, and a barbecue area. The 50-seater movie theater has a private viewing balcony, and a platform that consists of trap doors dedicated for magic shows.
Jackson purchased the ranch for $19.5 million back in 1988 and lived there for more than 15 years. He earned a $24.5 million debt for the ranch due to some financial challenges in 2008, and Colony Capital LLC, a real estate investment firm, bought the note for $23 million and placed the title into a joint venture as agreed upon with the pop musician. Colony Capital has paid millions of dollars for upgrades and maintenance purposes, with intent to profit from the property after selling it.
Perkins acknowledged the American entertainer's large fan base means listing agents would need to do an "extensive prequalification" of potential clients before presenting the Sycamore Valley Ranch. "Our seller is not encouraging a lot of showings. We're not going to be giving tours," Perkins told the Wall Street Journal.
