Neverland Ranch gets a new name and a big price cut

By YOU
03 March 2017

Michael Jackson's Neverland Ranch is back on the market with a new name and a seriously reduced price tag.

The property near Santa Barbara, California, has been renamed Sycamore Valley Ranch, and it's up for sale at $67 million (R882 Million) - a big difference from the $100 million (R 132 Billion) it hit the market at in 2016.

The estate features a main house, pool house, dance studio/movie theater, barn, train station and a fire house.

"This is a rare and truly remarkable estate of 50 maintained acres surrounded by some four square miles of natural beauty running to the distant mountain ridges," realtor Joyce Rey says. "Structures of magnificent quality and comfortable luxury make this a singular residence designed for an extraordinary California ranch and naturalist lifestyle."

She's also encouraging wine lovers to check out the grounds as the soil and climate are "well suited to provide high quality wine grapes".

Michael Jackson sold his famous home to bosses at Colony Capital prior to his death in 2009 for $22.5 million (R 290 Million).

He moved out after the ranch was raided by police seeking evidence to support claims the King of Pop had abused kids at his home ahead of his 2005 child molestation trial.

Read moreParis Jackson: ‘I was sexually assaulted’

Jackson was acquitted of all charges and vowed never to return to Neverland Ranch.

His daughter, Paris, recently went back to the place where she grew up and declared it "felt so good to be home".

The 18-year-old toured the family hideaway in October with her then-boyfriend, Michael Snoddy, and shared a series of photos documenting her trip down memory lane with fans on Instagram.

The teen also spent some time with the animals at Neverland's petting zoo.

Her dad bought Neverland in the late 1980s.

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