Story in Reuters

After ten years, Michael Jackson’s famed Neverland Ranch in California has finally been.

Billionaire investor Ron Burkle, a former family friend of Jackson, bought the sprawling 2,700 acre (1,100 hectare) estate, for $22milion.

Burkle is the controlling shareholder of Soho House, a private members club that attracts people in the entertainment and media industries and which has properties in New York, London, Los Angeles and Hong Kong

The Wall Street Journal said the estate, renamed Sycamore Valley Ranch several years ago, sold for $22million according to public records.

In 2015, the asking price was $100 million and in 2017 it was re-listed for $67 million.

Jackson, died from an overdose of the anesthetic Propofol in 2009 at age 50, and had bought the property in Los Olivos, about 120 miles (193 km) north of Los Angeles, in 1988 for $19.5 million.

After financial troubles, in 2008 he handed over the title to Colony Capital LLC, which held a loan on the property.
The pop star before his death abandoned the property following his trial on charges of molesting a young boy there.
Neverland, a name taken from the “Peter Pan” tale of a boy who refused to grew up, became Jackson’s favorite retreat and famously featured a zoo, a railway and theme park rides.It also was where he entertained children, one of whom brought molestation charges against the singer that resulted in a 2005 trial and Jackson’s acquittal on all charges.

Jackson vowed never to return to Neverland after the trial.

By Admin

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