MICHAEL Jackson’s infamous Neverland Ranch has had its asking price slashed by a whopping 75 per cent to £23m as his desperate family tries to cash in.
That’s a dramatic drop from the nearly £80m the 2,700-acre property was originally listed at – back in 2015.
Michael Jackson’s Neverland Ranch could face demolition as its owners struggle to sell it at a discount price in the wake of the latest sordid allegations against the star[/caption]
The Neverland Ranch featured a full-size funfair where Jackson’s child ‘friends’ would play[/caption]
Neverland – which has reverted to its original name, Sycamore Valley Ranch, since the singer’s death – is being marketed as the “ultimate ranch retreat and gated estate five miles north of the town of Los Olivos” in California.
The vast property is co-owned by the Jackson estate and the investment firm Colony Capital.
When it was originally listed in 2015, the Mail Online reported at the time that the home’s value had been subject to speculation in previous years, with people suggesting a sale figure as “low as US$35million (£27m)”.
The superstar reportedly bought the ranch for $19.5million in the 1980s.
Colony Capital bought it in 2008 after he defaulted on a loan, a year before he died.
Brokers Suzanne Perkins and Kyle Forsyth announced the price had been slashed days before the airing of Leaving Neverland on HBO.
The property featured heavily in the bombshell documentary, which detailed a series of harrowing claims against the late star.
According to Compass Real Estate’s property information, Sycamore Valley Ranch “offers six bedrooms, including a large first floor master suite with a private loft and two master baths.
“The home was designed in a French Normandy style and… is nestled between extensively landscaped gardens and a four-acre lake complete with a waterfall.”
Multiple structures on the property include three separate guest homes, a 5,500 sq ft movie theatre with stage, several barns, animal shelter facilities and a “maintenance shop”.
The King of Pop’s amusement park has long been removed.
Given the length of time it’s taken to sell the place, and the latest sordid child abuse allegations in the documentary, a property expert claims Neverland Ranch could be demolished.
Ruban Selvanayagam, co-founder of housebuyers Property Solvers, told the Daily Star Online in March that the owners will likely decide to cut their losses and raze the mansion.
He said: “I suspect most of it will be demolished as I doubt many developers would want to maintain Michael Jackson’s legacy after these shocking allegations.
“Perhaps someone may think that Neverland could be rebranded somehow, but this would be doomed to failure in my view.”
He added that even if it is sold, the estate will “undoubtedly lose out” because the “dark cloud surrounding Michael Jackson will be factored into the purchase price.”
I suspect most of it will be demolished as I doubt many developers would want to maintain Michael Jackson’s legacy after these shocking allegations
Spanning four hours, it detailed in horrific detail the accounts of Jackson’s former child “friends” Wade Robson, 36, and 41-year-old James Safechuck.
They claim to have been repeatedly raped and abused by the megastar from when they were children.
Much of the alleged abuse is said to have taken place in the Neverland Ranch – turned into a storybook paradise by Jackson when he bought it in 1988.
It was said to be a paedophile’s paradise with hidden sex dens he used to molest kids, according to Safechuck.
He claimed Jackson used alarms, bells and one-way glass to alert him to anyone approaching the alleged rape chambers.
‘DESIGNED FOR ABUSE’
In the doc, Safechuck said: “We would get a blanket and we would lie it on the floor in the closet, so we could close the door.
“So there were bells and you could have a moment of hearing them trip so at least you knew if people were coming for him.
“He also had an Indian fort with like teepees so we would lay down sleeping and have snacks and have sexual relations there.
“There was also a game room and then upstairs in the arcade there was a bed and we would go up there and have sex there.”
Safechuck also said Jacko would carry out abuse in a creepy third floor attic and in another building on the ranch which was “far away from the main house” where Jackson housed some of his own memorabilia.
The movie theatre had these two private rooms and you could see into the theatre… and we would have sex in those rooms
Then there was the cinema – with two private rooms fitted with one-way glass – where Jackson was almost caught out by the then schoolboy’s mother Stephanie.
Safechuck said: “The movie theatre had these two private rooms and you could see into the theatre… and we would have sex in those rooms.
Jackson was cleared at his 2005 child molestation trial, and moved out of the ranch after stating he felt it had been “too violated” by police during raids.
The star always strongly denied allegations of sex abuse made against him.
His family and estate have slammed Leaving Neverland – calling the film one-sided.
Jackson with Lisa Marie Presley and children at the Neverland Ranch, which could be demolished[/caption]
Wade Robson, left, with James Safechuck, right, and Leaving Neverland director Dan Reed. Their allegations have stunned the world[/caption]
Jackson, pictured in 2005 when he was acquitted of child molestation, always insisted he never abused children[/caption]
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