Neverland, Michael Jackson’s ranch, finally finds a buyer

It was his favorite corner of the world, the place where he found peace and where Michael Jackson stopped being an adult to become a child again, which is why he named it “Neverland” (Neverland) in honor of the magical island from the play “Peter Pan and Wendy” where adults cannot enter. He installed there an amusement park, a zoo, a lake with a waterfall, a movie theater, a swimming pool and even a Disney-themed train station.

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However, after the death of the king of pop more than a decade ago, that “paradise on earth” lost all its splendor and became a dark place. For this reason, and because of how much it cost to maintain this ranch of more than 1,100 hectares, its owners, the investment firm Colony Capital of Thomas Barrack Jr. to which the king of pop was forced to sell it to pay his debts in 2008, They decided to put it up for sale in 2015, although it has not been until now, five years after hanging the “for sale” sign that they have finally found a buyer.

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The starting price of the property, which features a Norman-French-style main residence and three guest houses, was 82 million euros, however, the buyers did not arrive, and in 2017 the singer’s heirs reduced the sale price to 67 million. Then came the documentary “Leaving Neverland”, broadcast by HBO and in which the alleged sexual abuse of minors by the singer was analyzed, of which he was acquitted in 2005, and its price was lowered again to 25 million euros.

However, finally the ranch has not been sold for either the 82 million at the beginning or the 25 at the end, but for 18 million euros, which is less than a quarter of its original sale price.

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His buyer has been Ron Burkle, co-founder and managing partner of Yucaipa Companies, LLC, a private investment firm whose net worth as of December 24, 2020 was estimated at 850 million euros. For Burkle this place was not at all unknown as in the past he had worked for Jackson as a business advisor, so he knew first-hand the potential of this property. According to a Burkle spokesperson, The intention of the buyer is not to establish his residence where Jackson once lived, but rather to invest in real estate to be able to sell it in the future.

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