Neverland Ranch

Sycamore Valley Ranch (formerly and most famously Neverland Ranch, or simply Neverland) is a developed property in Santa Barbara County, California, located at 5225 Figueroa Mountain Road, Los Olivos, California, on the edge of Los Padres National Forest. It is known for being the home and private amusement park of American entertainer Michael Jackson from 1988. Originally named Zaca Laderas Ranch, the estate was renamed to Sycamore Valley Ranch shortly after it was purchased by property developer William Bone in 1981. In 1988, the ranch was sold to Jackson, who renamed it after Neverland, the fantasy island in the story of Peter Pan, a boy who never grows up. Jackson's first encounter with the ranch came when he visited Paul McCartney, who was staying there during their filming of the "Say Say Say" video. According to La Toya Jackson, Michael expressed interest to her in someday owning the property at that time. As of 2019, the ranch is owned by Colony Capital and has been for sale for several years. The ranch is located about 5 miles (8 km) north of unincorporated Los Olivos, and about eight miles (13 km) north of the town of Santa Ynez. The Chamberlin Ranch is to the west, and the rugged La Laguna Ranch, is to the north. The Santa Barbara County Assessor's office says the ranch is approximately 2,700 acres (1100 hectares). Background: The estate was originally known as the Zaca Laderas Ranch at the time of its purchase by the property developer William Bone in 1981. Bone renamed the estate the Sycamore Valley Ranch and moved there with his family. Bone commissioned the architect Robert Altevers to design the principal buildings on the ranch, and the pair spent two and a half years researching potential designs and ideas. The 13,000 square foot (1,200 m²) main house was completed in 1982, based on a design by Altevers, with formal gardens, a stone bridge, and a four-acre lake with a five-foot waterfall. Bone later said that in building the house he had "...a desire to express everything I had learned in 15 years of home building...I achieved here all the things I wanted to do in my business but could not". He had considered converting the property to a country club but did not do so. Residence of Michael Jackson: Michael Jackson purchased the estate from Bone in 1988 for an unknown amount: some sources indicate $19.5 million while others suggest it was closer to $30 million. The property was initially purchased by a trust with Jackson's lawyer, John Branca, and his accountant, Marshall Gelfand, as trustees, for reasons of privacy. The arrangement was later rescinded by Jackson in April 1988 and he became the ultimate owner of the property. It was Jackson's home as well as his private amusement park, with numerous artistic garden statues and a petting zoo. The property included three railroads: one 3 ft (914 mm) narrow gauge named "Neverland Valley Railroad", with a steam locomotive named Katherine after his mother (Crown 4-4-0 (2B), built in 1973), and two coaches. The other was a 2 ft (610 mm) narrow gauge, with a C. P. Huntington replica locomotive made by Chance Rides. There was also a custom-made private electric train that was purchased by Jackson for his own children Prince, Paris and Blanket. The train was manufactured in 2001 from a German company Elektro-Mobiltechnik. The train was set up in the yard at Neverland behind the main house and had 100 feet of track. There was also a Ferris wheel, Carousel, Zipper, Octopus, Pirate Ship, Wave Swinger, Super Slide, roller coaster, bumper cars, and an amusement arcade. The master closet also contained a secret safe room for security. Some of the events that took place at the Ranch included the wedding of Elizabeth Taylor and Larry Fortensky in 1991, the live Oprah Winfrey interview of Jackson in 1993, and an event in 1995 when Jackson and Lisa Marie Presley hosted children from around the world. Neverland Ranch was searched extensively by police officers in connection with the People v. Jackson trial after he was charged with multiple counts of molesting a minor in 2003. Jackson was acquitted of all charges. However, Jackson stated he would never live at the property again as he no longer considered the ranch a home and did not return to Neverland. Jackson's sister, La Toya, wrote of her experience staying at the ranch during her brother's trial in her 2012 memoir Starting Over. In 2006, the facilities were closed and most of the staff were dismissed, with a spokesperson stating that this was the reflection of the fact that Jackson no longer lived there. Neverland Ranch has a central role in the allegations against Jackson of child sexual abuse; it is one of the main sites where Jackson's accusers have said the sexual abuse took place. The ranch's association with sexual abuse allegations was described as a possible reason for a significant decrease in value. Financial status: Reports of foreclosure proceedings against Neverland Ranch were published on October 22, 2007. A spokesperson for Jackson said that the loan was merely being refinanced and Jackson (later his estate) remained the majority stake holder, with a legal retention of 87.5% of the ranch. On February 25, 2008, Jackson received word from Financial Title Company, the trustee, that unless he paid off $24,525,906.61 by March 19, a public auction would go forward of the land, buildings, and other items such as the rides, trains, and art. On March 13, 2008, Jackson's lawyer L. Londell McMillan announced that a private agreement had been reached with the private investment group, Fortress Investment, to save Jackson's ownership of the ranch. Before the agreement, Jackson owed three months' arrears on the property. McMillan did not reveal the details of the deal. On May 12, 2008, a foreclosure auction for the ranch was canceled after Colony Capital, an investment company run by billionaire Tom Barrack, purchased the loan, which was in default. The selling price was $22.5 million. In a press release, Jackson stated, "I am pleased with recent developments involving Neverland Ranch and I am in discussions with Colony and Tom Barrack with regard to the Ranch and other matters that would allow me to focus on the future." On November 10, 2008, Jackson transferred the title to Sycamore Valley Ranch Company, LLC, and neighbors reported immediate activity on the property, including the amusement rides being trucked along the highway. Jackson still owned an unknown stake in the property, since Sycamore Valley Ranch was a joint venture between Jackson (represented by McMillan) and an affiliate of Colony Capital. The Santa Barbara County Assessor's Office stated Jackson sold an unknown proportion of his property rights for $35 million. Subsequent news reports however, indicated that Colony Capital had invested only $22.5 million in the property. In any event, reliable sources indicate that Colony is the majority owner. Kyle Forsyth, Colony's project manager, described the estate's Tudor-style buildings and savanna-like grasslands as "English country manor meets Kenya." Eventually, Colony hopes to sell the ranch, located in Santa Barbara County, in its entirety. Subdividing it, says Forsyth, "would destroy it." Since 2009, the Neverland Ranch rides Balloon Samba, Jeeps, Wave Swinger and Dinos have been featured attractions at the California State Fair in Sacramento. Death of Michael Jackson: Following Jackson's death, press reports during June 28–29, 2009, claimed that his family intended to bury him at the Neverland Ranch, eventually turning it into a place of pilgrimage for his fans, similar to how Graceland has become a destination for fans of Elvis Presley. The singer's father Joseph Jackson later denied the reports. Construction equipment and gardeners entered the grounds on July 1, prompting speculation that preparations were being made for something related to Jackson's death, but local officials stated that a burial there would be only allowed if the owners of the ranch would go through a permitting process with county and state government before establishing a cemetery at the site. Jackson's 2002 will gives his entire estate to a family trust. The ranch was the setting for two media appearances on July 2, 2009. Jermaine Jackson took The Today Show's Matt Lauer on a tour of the main house, and he was interviewed on the grounds of the house by Larry King for his show. In January 2013, singer Lady Gaga announced her willingness to help Jackson's children in keeping the ranch by investing in the property. Restoration: The amusement rides and animals were gone by 2009, replaced with a meditative zen garden and a section decorated with Peter Pan, Michael Jackson's favorite fictional hero. In May 2015, it was announced that the Neverland Ranch, renamed Sycamore Valley Ranch, would be put up for sale with an initial price tag of $100 million. By that time, Colony NorthStar had completed extensive renovations to the property. Many people, including fans, protested and disagreed with the decision. Jermaine Jackson, elder brother of Michael wrote an open letter to Colony NorthStar expressing his disagreement with their decision. As of May 2016, the 2,698 acre ranch, jointly owned by the Jackson estate and Colony NorthStar, was being sold by Sotheby's International Realty with an asking price of $100 million. The price included the 12,598 square foot six bedroom Normandy-style mansion, the four-acre lake with waterfall, a pool house, three guest houses, a tennis court, and a 5,500-square-foot movie theater and stage. The train station and railway tracks were also included. According to TIME, the owners were "specifically looking for a buyer who doesn’t plan to turn the place into a museum for the singer". Due to lack of interest, the asking price of the ranch had fallen to $67 million by February 2017. The property was still on the market in early 2018, at the same price, with Coldwell Banker. In February 2019, the asking price of the ranch was reduced to $31 million, $69 million less than the original asking price of $100 million in 2015. The listing agent for the ranch says nothing has changed except the price. The ranch's structures and landscaping are still being maintained.