Michael Jackson’s famed Neverland Ranch will soon hit the market. This opulent, 2,700-acre Los Olivos, Calif. estate is being sold by the real estate investment firm Colony Capital, which owns equity in Neverland after an agreement with Jackson that took effect in 2008. “We are frustrated, bitterly disappointed and saddened that it has come to this,” a representative for Jackson’s estate told Forbes. “Sadly, Michael lost control of Neverland during his life as a result of advice from a former manager.”
Michael Jackson turned the Neverland Ranch into the largest private fun park in the world where many thousands of children were entertained in a world which for many was a dream. The amusement park, which sits on 3,000 acres included a zoo, fairground and rail road track in tribute to his favourite fairytale Peter Pan. It features 22 buildings, including apartments and a movie theater.
Real estate experts say Neverland could fetch up to $50 million. When the King of Pop first acquired it in 1988, it’s estimated he spent between $16.5-$30 million to realize his fantastical dream.