Michael Jackson’s Neverland Still Waiting for a Buyer

After months of waiting and hearing news about the sale of Neverland, this beautiful ranch belonging to Michael Jackson was officially listed for sale at the end of May this year for $100 million—but no buyer has been found yet. In its listing, Sotheby’s refers to the property by its old name, Sycamore Valley Ranch, and has removed all information related to Michael Jackson. In the Sotheby’s sales listing, no mention is made of Michael Jackson, and the property is described as follows: Sycamore Valley Ranch, a property of more than one thousand acres, protected by large gates located 5 miles north of the city of Los Alamos. The main residence, with an area of 1,170 square meters, has six bedrooms, including a large room on the first floor with a hidden section near the ceiling, and two large bathrooms. The house was designed in 1982 by Robert Altevers for William Bon in the French Normandy style. With a rustic facade to the south and a mountainous facade to the north, the home is surrounded by beautiful gardens and a lake covering more than 1.5 acres, completed by a waterfall. There is ample space for a barbecue near the swimming pool and a tennis court. Many structures have been built on the property, including three separate guest houses, a 5,511-square-foot movie theater equipped with a viewing platform, several barns for animals and fodder, animal kennels and cages, and a horse-breeding area. Neverland also once had an amusement park and a zoo. After the allegations were put forward and the police raid in 2003, the property’s entire atmosphere changed. After Michael’s innocence was proven regarding the child abuse allegations in 2005, he left Neverland forever. The animals from the Neverland Zoo were moved to other animal-keeping locations, and the amusement-park equipment was sent to various other entertainment centers. In 1988, Michael Jackson bought the Neverland property from William Bon for $19.5 million with the aim of turning it into a safe home for children, and changed its name from Sycamore Valley Ranch to Neverland Ranch. Orphaned, poor, or sick children from across the country were brought to Neverland so they could enjoy its attractions for free. In the Neverland movie theater, a space was set up so that severely ill children who couldn’t sit could enjoy films and cartoons from their own beds. The property did not generate any special income for Michael, and every year a large amount of money was spent on maintaining it so that the public could use it for free. In 2008, following a bank threat to seize the property due to unpaid debts, the company Colony Capital purchased part of the property and paid the bank’s debt. In this way, the company became a partner in the Neverland property. After Michael’s death, his foundation announced that Colony Capital was determined to sell the property and that all their efforts to prevent it had ended in failure. The company had realized that after years of waiting, no commercial activity such as building an entertainment center or a museum in Neverland would be legally permitted. Neverland is located in an agricultural zone and has only agricultural and livestock use. Experts believe that no farmer or rancher is willing to buy this property for $100 million. Some are hoping that one of the wealthy and loyal figures to the King of Pop will purchase Neverland, help preserve its legacy, and bring it back to its dreamlike days. Source: eMJey.com / sothebyshomes