[Peter Paul Media] — The property made famous by the late music icon Michael Jackson, who renamed it Neverland Ranch and turned it into an amusement park, has been relisted and is attracting multiple buyers, a spokeswoman for luxury real estate developer Joyce Rey said.
“The owners have been making some changes since 2008 and the numbers have been in the millions,” Rey’s Director of Marketing, Ivena Armand, told Peter Paul Media in a phone interview on Wednesday. “We’ve already had a couple of buyers to the property.” during the weekend of March 4, Armand said.
The sprawling property, now known as Sycamore Valley Ranch, was officially listed on the market on March 1, firstly online and then in print two days later. It has undergone renovations since being relisted, Armand said. It still has some signature items from the Jackson days, like the famous Disney-style train station and Ferris Wheel.
The main residence has over 12,500 square-feet of space and is complete with five fireplaces, a first floor master wing with a private loft, two bedrooms and a private outdoor garden. The home also boasts a full theatre, dance studio and four additional bedrooms in the main residence, according to an online listing, which also highlighted the spacious exteriors around the property.
“This is a rare and truly remarkable estate of 50 maintained acres surrounded by some four square miles of natural beauty running to the distant mountain ridges,” the listing said.
The asking price as listed at $67 million, down from $100 million in 2015 and $32 million in 1988, when Jackson first purchased the property from golf course entrepreneur William Bone. There is a separate guest house just off the main residence with another four units, all with full baths, separate entrances and HVAC.
Located about 160 kilometres north of Los Angeles in the Santa Ynez Valley, 5225 Figueroa Mountain Road became Michael Jackson’s kingdom until 2003, when he said his home was “violated” after a raid by 70 police officers related to child molestation allegations. He moved out a short time later.
Almost twenty-years later in 2006, Neverland closed its doors for good just years after Jackson moved out and began renting luxury homes. Jackson would later die in 2009 at a home he rented in Holmby Hills, California, which later sold for over $18 million dollars, three-years after his untimely death.