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Neverland Ranch back on market for cut-price £54.5m

Michael Jackson's former Neverland Ranch is back on the market with an asking price of 67 million US dollars (£54.5 million).

The 2,700-acre property near Santa Barbara, California, has been renamed Sycamore Valley Ranch.

The listed price represents a significant cut from the 100 million dollars (£81.4 million) it was on the market for last year.

In addition to a 12,000 square foot main residence and a 3,700 square foot pool house, the listing boasts a separate building with a 50-seat cinema and a dance studio.

Other features on the ranch are a "Disney-style" train station, a fire station and a barn.

Jackson sold the ranch to Colony Capital prior to his 2009 death for 22.5 million dollars (£18.3 million).

Colony Capital is headed by Thomas Barrack, a confidant and fundraiser for President Donald Trump.

AP

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