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Michael Jackson's Neverland ranch is back on the market – for £52m discount

The Thriller singer bought the property in 1987

Chloe Best

Michael Jackson's Neverland ranch has been put back on the market at a massively-reduced price amid allegations of sexual abuse set to air in the documentary Leaving Neverland. The singer's California property has been rebranded as the Sycamore Valley Ranch and listed for $31million (£23.5million) – a £52million reduction from when it was first listed for sale in 2015.

The estate spans 2,700 acres and has its own tennis court, a swimming pool and a movie theatre. It was home to Michael from 1987 until 2005, when he moved out after being acquitted of sexual molestation charges. The ranch is still said to be in good condition, with the price drop attributed to the result of years of drought and natural disasters rather than the negative press surrounding the singer in recent weeks.

Michael Jackson's Neverland ranch has been reduced to £23.5million

The main house features a 12,000 square foot mansion with six bedrooms and staff quarters, three guest houses, animal shelter facilities, a swimming pool, and four-acre lake with a waterfall. Michael even had his own fairground rides on the estate but they have since been removed.

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Michael's former home is owned jointly by his estate and a fund managed by Colony Capital, who bought it for £23.5million in 2008, when the Thriller singer was heavily debt. The property has undergone several upgrades since Michael's death in June 2009, but has so far failed to find a buyer.

The Neverland ranch has been renamed the Sycamore Valley Ranch

It was first listed on the market for $100million (£75million) in 2015, but was reduced to $67million in 2017. Now it has had another significant price reduction as it returns to the market two years on.

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The former Jackson 5 singer died almost ten years ago due to an accidental prescription drug overdose. He left behind three children, Michael Jr – known as Prince, daughter Paris, and son Blanket.

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