Michael Jackson's Neverland Ranch back on market for $67M

Michael Jackson's Neverland Ranch is back on the market with an asking price of $67 million (all figures US).

The 2,700-acre property near Santa Barbara, Calif., has been renamed Sycamore Valley Ranch.

The listed price represents a significant cut from the $100 million it was on the market for last year.Jackson paid $19.5 million for the property in 1988 and rechristened it Neverland after Peter Pan's home.

In addition to a 12,000 square foot main residence and a 3,700 square foot pool house, the listing boasts a separate building with a 50-seat movie theatreand a dance studio.

Other features on the ranch are a "Disney-style" train station, a fire house and a barn.

Jackson sold the ranch to Colony Capital, prior to his 2009 death, for $22.5 million US. Colony Capital is headed by Thomas Barrack, a confidant and fundraiser for U.S. President Donald Trump.