Beyonce bids for Jackson's Neverland ranch

R&B superstar Beyonce and husband Jay-Z are eyeing up Michael Jackson's Neverland ranch, bidding 16 million pounds for it.

The musical couple want to turn the estate into a vineyard, reported Daily Star.

But the price they have offered is 3 million pounds below the asking price for the 30,000-acre California estate.

Jay-Z, 43, and Beyonce, 31, reckon it is the perfect place to bring up year-old daughter Blue Ivy and to start a winery.