A piece of popular culture history is going on the block. Colony Capital, which holds the note on Michael Jackson’s famed Neverland Ranch, has confirmed it will be putting the estate in Los Olivos, Calif. up for sale.
Of course, Jackson himself never returned to the fantasy playground he created for himself in the Santa Barbara County countryside — after his June, 2005 acquittal of all charges in that child molestation case that was a media sensation at the time.
Because of zoning laws of both Santa Barbara County and the town of Los Olivos, showbiz411.com reports the idea of turning Neverland (now known as Sycamore Valley Ranch) into a museum is prohibited.
The long-abandoned property has been appraised at $30 million, but Jackson’s beloved animals and carnival-type rides have been sold. The furniture and other contents of the house reportedly are in storage.
The Jackson estate issued a statement expressing “sadness” over the pending sale, but confirmed that Colony Capital was in its rights to sell the estate.