London, Mar h 05: Beyonce and husband Jay-Z have made a 16million-pound bid for Michael Jackson's Neverland Ranch.

The couple, whose bidding price is 3m pounds below the asking price, wants to turn the 30,000-acre California estate into a vineyard, the Daily Star reported.

The singer duo reportedly thinks that the farm is the perfect place to bring up their one-year-old daughter, Blue Ivy, and to start a winery. (ANI)