Michael Jackson’s former house Neverland Ranch has reportedly sold for £16million – less than a quarter of the original asking price.
Billionaire investor Ron Burkle bought the home for $22m in a deal that has been called a “steal”, it’s claimed.
The original asking price for the iconic property was £73m ($100m).
According to the Wall Street Journal, Burkle, a former associate of Jackson’s, made the purchase after it was re-listed for £23m ($31m) this year.
LA real estate agent Ian Reed told the Guardian : “It’s maybe like a haunted house but the buyer just got a deal – a steal in fact.
Jackson moved into Neverland Ranch in 1987 at the height of his fame.
The home was famously searched in the 1990s when Jackson was first accused of child abuse, which he was later acquitted of.
He lived there until he died in 2009.
The ranch featured an amusement park, train ride and zoo.
He died at a different home in Holmby Hills in Los Angeles.
Neverland Ranch was put on the market at £73m ($100m) in 2015.
After Jackson’s death it was rebranded as Sycamore Valley Ranch and the amusement rides were taken down.
The listing described it as “the ultimate ranch retreat … nestled between landscaped gardens and a 4-acre lake, incredible pastoral views to the south and majestic mountain views to the north”.
It also includes “an expansive covered outdoor BBQ area is perfect for entertaining and adjacent to the pool, pool house and tennis court”.