Five years after the famed Neverland ranch owned by Michael Jackson was put up for sale with an asking price of $100 million, it was purchased by businessman Ron Burkle for the much lower price of $22 million; but, what does the estate look like today?
Michael Jackson’s well-known Neverland property has been deserted ever since the singer passed away unexpectedly in 2009.
According to recent reports, billionaire businessman Ron Burkle was able to purchase the 2,800-acre California property for a mere $22 million, despite the fact that the land had previously been listed for sale at a price of $100 million in the year 2016.
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Mr. Burkle, who was Jackson’s business counselor in the middle of the 2000s, assisted The King of Pop when he was struggling with debt as a result of building up enormous debts to fund his extravagant lifestyle.
Michael Jackson paid $17 million for Neverland in 1988, and it is reported that he spent over $35 million transforming it into the theme park of his dreams, which included building a Ferris wheel, train station, and go-kart track. However, the estate has sat empty and in disrepair ever since the pop star’s death in 2009, and it is currently being sold off piece by piece.
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The Wall Street Journal reports that Ron Burkle has more than 1,000 acres in California and has purchased Neverland, which is now known as Sycamore Valley Ranch, as “a land bank opportunity.” Burkle does not currently have any immediate plans to expand on or improve the property.
Despite the efforts of Jackson’s family and estate to prevent the release of the documentary, “Leaving Neverland,” which alleges that Michael Jackson sexually molested two boys 20 years ago, brought the sprawling ranch to the forefront of the public’s consciousness once again.
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After purchasing Neverland in 1988 for a price ranging from $19.5 million to $30 million, Michael Jackson made it his home for the next 15 years.
Yet, where exactly is Neverland, and what exactly is the infamous property’s background?
Where is Neverland?
Santa Barbara County, California is the location of the constructed property that contains the mansion.
On the border of the Los Padres National Forest is where you’ll find it; the address is 5225 Figueroa Mountain Road in Los Olivos, California 93441.
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According to the Santa Barbara County Assessor’s Office, the ranch has somewhere around 2,800 acres (1100 hectares).
Why was this place given the name Neverland?
It was given the name Neverland for the first time in 1988, and Michael Jackson made it renowned all over the world by making it his home.
Jackson decided to give the region the name Neverland, which is the name of the fictitious island in the story of Peter Pan, the kid who never ages.
His first experience with the ranch was when he paid a visit to Sir Paul McCartney, who was staying at the ranch during the time that they were shooting the music video for “Say Say Say.”
When Michael Jackson was a resident in Neverland, what kind of shenanigans took on there?
When real estate developer William Bone purchased the ranch in 1977, it was already well established in the community as the Zaca Laderas Ranch. After moving his family there, Bone rechristened the mansion the Sycamore Valley Ranch and gave it a new name.
In 1988, Michael Jackson paid Bone an amount that has never been made public in order to acquire the estate. There are reports that put the figure as $19.5 million, but others imply that it was probably closer to $30 million.
In addition to being Jackson’s house, the property also functioned as his own personal amusement park and had a flower clock, exquisite garden statuary, and a petting zoo among other attractions.
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It was also home to two different narrow gauge railroads: one with a 3 foot gauge that was known as the “Neverland Valley Railroad” and featured a steam locomotive named Katherine in honor of his mother; the other featured a 2 foot gauge and featured a locomotive named CP Huntington that was manufactured by Chance Rides.
In addition, there was a bumper car track, a roller coaster, a Ferris wheel, a carousel, an octopus, a pirate ship, a wave swinger, a super slide, and an arcade. In addition to being a closet, the main bedroom included a hidden safe room inside of it.
Events such as the wedding of Elizabeth Taylor and Larry Fortensky in 1991, a live interview with Michael Jackson conducted by Oprah Winfrey in 1993, and an event in 1995 in which Michael Jackson and Lisa Marie Presley hosted youngsters from across the world all took place at the Jackson Family Ranch.
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After Michael Jackson was charged with multiple counts of sexually abusing a child in 2003, the authorities searched Neverland Ranch as part of the investigation leading up to his trial. In the end, all of the charges against Jackson were dropped.
When exactly did Michael Jackson leave the Neverland ranch?
Following the verdict of the trial, Jackson stated that he would never reside at the property again because he no longer considered the ranch to be his home. He also never returned to the ranch after the trial.
According to him, the actions of the seventy police officers constituted a “violation” of the property. In 2006, the facilities were shut down, and the majority of the workforce was terminated from their positions.
It was said that after Michael Jackson’s death, his family planned to bury him at Neverland and convert it into a place of pilgrimage for his admirers, much as Graceland is to Elvis Presley supporters. This was compared to the fact that Graceland is a place of pilgrimage for Elvis Presley devotees. Later, the singer’s father, Joseph Jackson, responded to the rumors by denying that they were true.
At the California State Fair in Sacramento, which has been held annually since 2009, notable attractions include the rides known as Balloon Samba, Jeeps, Wave Swinger, and Dinos.
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There were rumors circulating in October 2010 that Michael Jackson’s children intended to purchase the home.
On the other hand, because it was never maintained, the ranch went into disrepair. By 2013, the amusement rides and animals had been removed, and their places had been taken over by a Peter Pan-themed portion and a zen garden for meditation.
The property formerly known as Neverland Ranch was rebranded as Sycamore Valley Ranch in May 2015 and placed on the market with an initial asking price of $100 million.
By that time, major renovations had been finished on the property by Colony NorthStar, despite the fact that a great number of individuals, including fans, protested against the choice.
Sotheby’s International Realty was the broker for the sale of the ranch, which had an asking price of $100 million. The purchase included a home that was 12,598 square feet in size and had six bedrooms. Also, it contained a four-acre lake with a waterfall, a pool house, three guest cottages, a tennis court, and a movie theater and stage that were 5,500 square feet in size.
The asking price dropped to $67 million as a result of a lack of interest, and the property was still available for purchase at the beginning of 2018.
The asking price of the ranch was decreased to $31 million in February of 2019, and in December of 2020, billionaire businessman Ron Burkle purchased it for $22 million.
