Neverland Ranch's Price Has Been Marked Down 70% — & Still No One Wants To Buy It

This weekend, Leaving Neverland, the highly-anticipated documentary about two of Michael Jackson's alleged abuse victims, premieres on HBO (it will air on Channel 4 ). Ahead of its release, a place extensively discussed in the documentary is in the spotlight for an unexpected reason. Yesterday, The Wall Street Journal reported that Neverland Ranch, Jackson's estate where much of the alleged abuse was said to have taken place, has been re-listed for £23 million, which is a whopping 70% less than its original asking price.

Michael Jackson lived at Neverland Ranch for 15 years. In 2015, six years after the pop star's death, his estate along with Colony Capital, the investment firm that co-owns the property, listed Sycamore Valley Ranch, which is the property's new name, for £75 million. Two years later, the asking price was reduced to £49 million. Suzanne Perkins and Kyle Forsyth, the listing agents now handling the sale of the ranch, confirmed in an email to Refinery29 this morning that it is now listed for £23 million. We reached out to Colony Capital about the decision to reduce Sycamore Valley Ranch's price once again, but it declined to comment. We also reached out to a lawyer for Jackson's estate and have yet to hear back.

Though the role Neverland Ranch plays in Leaving Neverland and the one it played in the People v. Jackson trial and investigations are not insignificant, a lot about the property has changed since Jackson lived there. In addition to its new name and updated price tag, the property has seen extensive renovations and the famous amusement park rides have been removed.

Perhaps due to the controversy surrounding Jackson's legacy ahead of Leaving Neverland's release, the listing agents have chosen to concentrate not on the ranch's well-publicised past but on its "entertainment facilities" and "pristine" 2,700 acres. According to Sycamore Valley Ranch's current listing, the main house has six bedrooms and nine bathrooms. On the property, there are also three separate guest homes, a four-acre lake complete with a waterfall, a 5,500-square-f00t cinema, several barns, animal shelter facilities, a covered outdoor barbecue area, a pool, and tennis courts. We'll have to wait and see if that's enough to convince someone to buy the property despite what's soon to be revealed in Leaving Neverland.