By Euro Weekly News Media • 02 August 2014 • 14:58
Neverland ranch, previous home of the late and great Michael Jackson, is to be put up for sale by its owning company. Colony Capital, who bought the estate from the singer, has decided that after impressive restoration work the house should be sold onto a new owner.
The massive grounds and stunning house could fetch up to $50 million considering its rich history and incredible attractions on site. Jackson named it after the magical land in Peter Pan and installed an amusement park, zoo and acres of green land which use to be home for ‘Bubbles’. ‘Bubbles’ was Jackson’s pet chimpanzee.
The company paid $23.5 million to Michael Jackson in 2008 when he had incurred large debts in part due to the fact he had been fighting child molestation charges for many years. They have largely brought the place back up to standard and a few years where it had lost some of the grandeur.
The estate which contained a pool, cinema, big guesthouse and even a rail track has been measured at 2,680 acres. The company have however said that they hope any new owner respects the ranch and tries to maintain what the magical place means to so many ‘Jacko’ fans. Michael Jackson passed away at the relatively young age of 50 due to cardiac arrest and the world mourned as it lost one of its truly talented and inspirational artists.
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