Michael Jackson's former Neverland Ranch for sale yet again, now with $43m price tag

The Californian ranch that belonged to late singer Michael Jackson, then known as Neverland, has had another price cut and is now on the market for less than one-third of its original price.

The 1090 hectare property is now listed through Compass, retitled Sycamore Valley Ranch and asking $US31 million ($43 million).

It was initially listed for $US100 million dollars in 2015, with the price dropped to $US67 million in 2017.

The main house on the property is a 1170-square metre, six-bedroom mansion built in 1982 in French Normandy style. The estate also hosts multiple guesthouses, a movie theatre, equestrian facilities, and 1.6-hectare lake complete with a waterfall.

Jackson originally bought the property back in 1987 for reported $US19.5 million, adding distinctive features such as a floral clock and railway station, as well as installing a petting zoo, two-storey arcade and an assortment of amusement park rides.

The pop performer vacated the mansion after it was searched by police in relation to his 2003 arrest. He defaulted on the $24.5 million loan on the property a few years later, after which it was nearly auctioned off.

Real estate investment firm Colony Capital came to the rescue for a reported $22.5 million in 2008, with Jackson’s estate retaining joint ownership. 

The singer died in 2009; his private doctor Conrad Murray charged with, and later found guilty of, involuntary manslaughter.

US television station HBO is screening the documentary Leaving Neverland detailing the singer’s alleged abuse of two boys early in March.