International
$100m! Michael Jackson’s ranch up for sale
Michael Jackson’s Neverland ranch has gone up for sale with a price tag of $100m, reports the Wall Street Journal.
The Santa Barbara development was once home to a zoo, an amusement park and its own fire station.
Jackson bought Neverland in 1987 for $19.5m, intending to create a fantasy land for children, but struggled to pay for it, until an investment company stepped in to help him save it from auction.
It is named after an island in the story Peter Pan, where children never grow up.
The property is now called Sycamore Valley Ranch and has undergone extensive redevelopment since Jackson’s death in 2009.
Michael built a zoo and an amusement park in the grounds of Neverland. The 2,800 acre (1,100 hectare) site is now being sold jointly by Sotheby’s and Hilton & Hyland.
It was closed to the public in 2006 after he failed to pay his staff or maintain proper insurance.
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