Michael Jackson’s Neverland Ranch Finally Sells But Only For £16 Million

Michael Jackson’s former home, the “Neverland Ranch” has finally been sold more than 10 years after the King Of Pop died.

The estate, near Santa Barbara in California, sold for a third of it’s latest asking price. The £16m purchase represents a massive drop from its original £73.6m valuation which was reduced to £49m as recently as 2016.

The now named “Sycamore Valley Ranch” boasts a 12,500-square foot main residence, a 3,700-square foot pool house and a separate building with a 50-seat cinema and dance studio. During Jackson’s time living there the compound also hosted a railway and theme park rides, as well as a zoo.

Billionaire Ron Burkle who owns the controlling share of luxury private members club Soho House and who is also a family friend of the Jackson’s said via a spokesperson that he sees the investment as a “land banking opportunity”.