Michael Jackson’s Ranch Gets a New Name and is Back on the Market Again

FameJuly 3, 2019

New Listing Price For The Ranch

Neverland Ranch, the famous ranch belonging to Michael Jackson is back on the market again, and that is a couple of days just before the premiere of Leaving Neverland, the highly controversial documentary on HBO.

There is a pending lawsuit by the estate of Jackson against HBO to stop the broadcast of the documentary. However, HBO still intends to broadcast the documentary. One obvious thing about the new listing price is substantially lower than the initial asking price in 2015 which was a whopping $100 million.

The new listing price of Neverland Ranch is substantially lesser than the initial 2015 asking price

Past Inability To Get A Buyer

The listing agent who manages the property, Suzanne Perkins, told a media outlet that the agency was not able to get the right buyer for the property when it was listed in 2015 because of the price tag.

The property spans 2,700 acres, and the listing price was cut to $67 million about 2 years ago and was removed from the market a couple of months after. The property is re-entering the market for the first time since then and it’s now at a considerably reduced price.

The $100 million price tag made it difficult to get a buyer for the property in 2015

Sycamore Valley Ranch

A colleague to Perkins, Kyle Forsyth said now is the ideal time for new stewardship. Currently, Jackson’s estate together with a fund managed by the popular firm Colony Capital is the legal co-owners of the ranch. The estate has officially been renamed as Sycamore Valley Ranch. It spans across 12,000 square feet for the main house, and that was where Jackson lived. The ranch has a basketball court, multiple guesthouses, a tennis court, a fire department that has a 1950s fire truck and a swimming pool.

The ranch’s amusement parks have been removed. However, Jackson’s private menagerie where he kept exotic creatures like orangutans, llamas and an elephant that was gifted to him by Elizabeth Taylor is still there, although empty.

Also, a game room which was previously home to Jackson’s impressive collection of video game machines such as Mortal Kombat, X-Men, Jurassic Park and Pinball, among others. There is a high probability that the home won’t come with these games either would it come with any of the singer’s uncommon memorabilia, a lot of which featured Jackson’s likeness and face.

Sycamore Valley Ranch features a basketball court, multiple guesthouses and a tennis court

Upgraded Infrastructures

Forsyth also told a media outlet that the colony has spent a lot of money on the property’s infrastructural upgrades. The range of upgrades includes those on its landscaping systems and security systems in a bid to help strike a divide between the man and the mansion. History has it that Michael Jackson had to part with $19.5 million to purchase the property in 1987. The singer went ahead to occupy the property for over fifteen years.