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Michael Jackson’s former home, Neverland Ranch, sold for £ 16 million, less than a quarter of the asking price.
Billionaire investor Ron Burkle bought the house for $ 22 million in a deal that has been called “theft,” it is claimed.
The original asking price for the iconic property was £ 73 million ($ 100 million).
According to the Wall Street Journal, Burkle, a longtime partner of Jackson, made the purchase after it was re-listed for £ 23 million ($ 31 million) this year.
Los Angeles real estate agent Ian Reed told The Guardian: “It may be like a haunted house, but the buyer just got a deal, a robbery indeed.
(Image: AFP / Getty Images)
(Image: Getty Images)
Jackson moved to Neverland Ranch in 1987 at the height of his fame.
The house was searched in the 1990s when Jackson was first accused of child abuse, of which he was later acquitted.
He lived there until his death in 2009.
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The ranch had an amusement park, a train ride, and a zoo.
He died in a different house in Holmby Hills in Los Angeles.
Neverland Ranch was marketed for 73 million pounds ($ 100 million) in 2015.
(Image: Corbis via Getty Images)
After Jackson’s death, it was renamed Sycamore Valley Ranch and the attractions were retired.
The listing described it as “the ultimate ranch retreat … set amongst gardens and a 4-acre lake, incredible pastoral views to the south and majestic mountain views to the north.”
It also includes “a large covered outdoor barbecue area perfect for entertaining and next to the pool, the pool house and the tennis court.”
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