The California ranch once known as Neverland and owned by late pop star Michael Jackson is going on the market for $100 million.The Los Olivos property, about 40 miles from Santa Barbara, is now called “Sycamore Valley Ranch,”The iconic floral clock, which spells out “Neverland,” is still there, and so is the building that once housed the Neverland Valley Fire Department, although it’s no longer staffed by full-time firefighters. But the railroad tracks and train station created at Mr. Jackson’s behest are still there.Mr. Jackson paid $19.5 million for the ranch in 1987 and lived there more than 15 years. Amid financial struggles, he defaulted on a $24.5 million loan backed by the ranch. Real-estate investment firm Colony Capital bought the note in 2008 for $23 million and put the title into a joint venture it formed with the pop star. Colony spent millions on upgrades, intending to eventually sell it.
Acknowledging Mr. Jackson’s many enthusiastic fans, the listing agents warned they will be doing “extensive prequalification” of potential buyers before showing the property. “Our seller is not encouraging a lot of showings,” Mr. Hyland said. “We’re not going to be giving tours,” Ms. Perkins added.Could Neverland become a state park?
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