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Neverland Ranch back on market with cut price, no Michael Jackson reference

Neverland Ranch back on market with cut price, no Michael Jackson reference
March 2, 2017
CALIFORNIA - Michael Jackson's famed Neverland Ranch in California is back on the market at a much reduced price of $67 million and with no mention of the late pop star in the real estate listing. The sprawling 2,700-acre (1,100-hectare) estate, which once featured a zoo and theme park rides and where Jackson was accused of molesting a boy, is being touted for suitability for wine-making, keeping horses and a "lifestyle of relaxation and entertaining on a grand scale." The estate, which was renamed Sycamore Valley Ranch several years ago, was last offered for sale in May 2015 at $100 million but failed to sell. Jackson, who died from an overdose of the anesthetic Propofol in 2009 at age 50, bought the property in Los Olivos, about 120 miles (193 km) north of Los Angeles, in 1987 for $19.5 million. After financial troubles, in 2008 he handed over the title to the ranch to investment firm Colony Capital LLC, which held his $23 million loan on the property. Neverland, a name taken from the "Peter Pan" tale of a boy who refused to grew up, became Jackson's favorite retreat. It also was where he entertained young boys, one of whom brought molestation charges against the "Thriller" singer that resulted in a 2005 trial and Jackson's acquittal. The ranch's famous railway has now been removed but the listing by real estate company Coldwell Banker shows that the floral clock with the word Neverland remains. Other than that, the listing makes no mention of Jackson. -Reuters