By Bea Patel, TLE Property Editor and Director of Shop for an Agent
Michael Jackson’s former Neverland ranch is on the market for just under £54m. There is almost a third off the asking price since it was for sale back in 2015, then on the market for £82m.
With 22 structures spread across approximately 2,700 acres of land, this impressive property has five bedrooms in the main house, out-houses, a four-acre lake, lagoon style pool, barns, corrals and a five-bay garage.
It’s also not short on entertainment facilities. It has an outdoor kitchen, 50-seat movie theatre, dance studio, lighted tennis court, a tennis pavilion/pool house and three guest rooms. It also comes with a fire station, railway station and railway track.
Now reverted to its original name – Sycamore Ranch, it’s in Los Olivos, 35 miles from Santa Barbara and Santa Maria in California.
Michael Jackson bought the property for $19.5m in 1987. In 2008, Jackson hit financial difficulty and handed the Title over to Colony Capital, an investment firm.
The property is now being sold jointly with the Jackson estate after undergoing a full renovation, where the petting zoo and amusement park have been removed.