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MT 5 March 2017

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maltatoday, SUNDAY, 5 MARCH 2017 VI Property & Construction Michael Jackson's Neverland now for sale for only $67 million NEVERLAND, the one-time ranch and private playground of late pop icon Michael Jackson, has returned to the market for $67 million, a 33% price chop from its original list price of $100 million. The property, set on 2,700 park- like acres outside Santa Barbara in the Santa Ynez Valley, centres on a Normandy-style mansion designed by architect Robert Altevers and built in 1982. The roughly 13,000-square- foot house features exposed beams, parquet floors, five fireplaces and a master wing complete with its own garden. A 50-seat theatre and dance studio, a four-bedroom guesthouse and a separate two-bedroom guesthouse are among nearly two dozen other structures on the estate. Also on the property is a swimming pool, a sports court and a red barn originally built to house Clydesdale horses. Jackson, who died in 2009 at 50, bought the property for $19.5 million in the late '80s from golf course en- trepreneur William Bone. He was in default on the loan on the ranch when it was bought by Colony Capital about eight years ago for $22.5 million. Listing agent Joyce Rey of Coldwell Banker said in a statement that the original price allowed Colony Capital, the private equity firm headed by Thomas J. Barrack Jr., "time to better determine the future of the Ranch." "This quintessential California es- tate is now ready for the next chapter in its journey," she said. Neverland, the former home of late pop star Michael Jackson

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