Michael Jackson’s former home, the “Neverland Ranch” has finally been sold more than 10 years after the King Of Pop died.
The estate, near Santa Barbara in California, sold for a third of it’s latest asking price. The £16m purchase represents a massive drop from its original £73.6m valuation which was reduced to £49m as recently as 2016.
The now named “Sycamore Valley Ranch” boasts a 12,500-square foot main residence, a 3,700-square foot pool house and a separate building with a 50-seat cinema and dance studio. During Jackson’s time living there the compound also hosted a railway and theme park rides, as well as a zoo.
Billionaire Ron Burkle who owns the controlling share of luxury private members club Soho House and who is also a family friend of the Jackson’s said via a spokesperson that he sees the investment as a “land banking opportunity”.
