Michael Jackson’s iconic Neverland Ranch is available to buy, the 2,700-acre property is valued at €45 million.
The Peter Pan inspired estate, came under the control of Colony Capital LLC (an investment company run by billionaire Tom Barrack). Colony Capital own a majority stake in the property after buying out the late singer’s €17 million mortgage to save it from foreclosure in 2008.
Forbes reported that the upkeep of Neverland Ranch is €3.7 million a year. Thomas Barrack Jr of Colony Capital told Bloomberg: “We’ve really just been custodians of an irreplaceable estate and are proud to say we’ve restored it to the original elegance Michael first envisioned. We are now considering putting it up for sale.”
The Jackson family is reported to be very upset with the news of a potential sale. A representative for The King of Pop’s estate told Forbes:
“We are frustrated and bitterly disappointed that it has come to this. We are saddened at the prospect of the sale of Neverland which, under the agreement negotiated during Michael’s lifetime, Colony has the right to sell. Sadly, Michael lost control of Neverland during his life as a result of advice from a former manager.”
The sprawling property includes a movie theatre, a deluxe French-style country home, two railroads, numerous water fountains, metallic statues of children at play, a petting zoo, Ferris wheel and full-scale arcade.
Watch the cribs episode that featured Neverland Ranch below.
