By the time Michael Jackson signed a lease on one of the most coveted addresses in Los Angeles, he hadn’t called the infamous Neverland home in four years.
The legendary 1092Ha (2700-acre) Santa Barbara County compound where he’d spent decades and an untold fortune building into a private fantasyland had become a liability — financially, legally and emotionally, the New York Post reports.
Instead, in December 2008, the 50-year-old King of Pop quietly moved into the Holmby Hills estate, renting the property from clothing manufacturer mogul Hubert Guez and his wife Roxanne.
The gated French chateau in Los Angeles became his final sanctuary, costing the pop star $150,000 ($US100,000) a month in rent while he scrambled to fund his ill-fated This Is It tour.
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Michael Jackson spent the last six months of his life renting a sprawling French chateau at in Holmby Hills, Los Angeles. Picture: Supplied
Jackson paid $US100,000 a month while rehearsing for his ill-fated This Is It comeback tour. Picture: Kevin Mazur/AEG via Getty Images
Situated in a secluded Los Angeles neighbourhood, the home boasts seven bedrooms, 13 bathrooms, and 12 fireplaces.
The residence featured a wine cellar, theatre, tasting room, spa with a gym, elevator and guesthouse, along with a pool and gardens.
At the time of his death, the Moonwalker star was in rehearsals for his 50-show comeback tour booked at London’s O2 Arena, a run intended to pay his bills and restore his legacy.
Jackson lived at the estate with his three children, Prince, Paris and Blanket.
When celebrity auctioneer Darren Julien and his team at Julien’s Auctions toured the property after Jackson’s death on June 25, 2009, they noted the remnants of a family life, including a chalkboard in the kitchen where three barstools stood in a row.
Evidence photos from Dr Conrad Murray’s criminal trial later revealed the layout of the home. Dr Murray was convicted of involuntary manslaughter in November 2011 for administering Propofol to Jackson to treat chronic insomnia.
The estate is currently owned by clothing mogul Hubert Guez. Picture: Supplied
The home featured a private theatre, wine cellar, spa and a guesthouse. Picture: Supplied
The house itself changed hands in November 2012. Picture: Supplied
To understand why Jackson ended up renting at $150,000 ($US100,000) a month rather than living at his own estate, one must look at the collapse of Neverland.
The Grammy-winner purchased the property in 1988 for $29 million ($US19.5 million).
The sprawling estate was transformed into a private theme park with custom-built rides, a zoo and a functioning railway.
The child molestation charges brought against Jackson in 2003, for which he was acquitted in 2005, ended his life at the ranch. He never returned.
By February 2008, the Financial Title Company notified Jackson that unless he produced more than $33 million ($US24 million), the ranch would go to public auction.
His lawyer, L. Londell McMillan, announced in March 2008 that a deal had been struck with investment group Fortress Investment to prevent the sale.
Two months later, Colony Capital stepped in and purchased the defaulted loan for $31.2 million ($US22.5 million).
Michael Jackson bought Neverland Ranch in 1988. Picture: Frazer Harrison/Getty Images
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Jackson faced a foreclosure notice on Neverland Ranch in 2008. Picture: Getty Images
In November 2008, the musician transferred the Neverland title to a joint venture between himself and an affiliate of Colony Capital.
The rides were removed shortly after. The ferris wheel and roller coasters were sold off to various amusement parks across the United States.
Following Jackson’s death, the contents of the Carolwood home were auctioned by Julien’s Auctions.
The house itself changed hands in November 2012, when Hubert and Roxanne Guez the mansion for $27.6 million ($US18.1 million), according to the Wall Street Journal.
This was significantly below its peak asking price of $53.5 million ($US38.5 million).
The buyer was Steven Mayer, a senior managing director at Cerberus Capital Management.
Neverland, now known as Sycamore Valley Ranch, was purchased in 2020 by billionaire businessman Ron Burkle for $28 million ($US22 million).
It was considered a “bargain” far below its initial asking price of $128 million ($US100 million).
Parts of this story first appeared in the New York Post and was republished with permission.
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