Deltroit fetches $16.3 million in sale to MHPF

Deltroit fetches $16.3 million in sale to MHPF
Deltroit fetches $16.3 million in sale to MHPF

MH Premium Farms (MHPF), the Australian agricultural investment group of UK-based hedge fund founder, Sir Michael Hintze, has bought Deltroit, the Gundagai district farm with settlement paperwork revealing a $16.3 million price.

The 2573 hectare Mundarlo property was offered for sale to wind up the agricultural portfolio of the Brisbane-based Australian Pastoral Group who had bought Deltroit in 2012 from Anthony Crichton-Brown.

Inglis Rural were expecting $18 million to $20 million. It had previously traded at $15.5 million in 2012.

MHPF’s properties now cover more than 50,000ha, mostly NSW, but also North Queensland, where MHPF spent $9 million recently on expanding its irrigated sugar farming operations at Ayr.

Deltroit will be used by MHPF to grow prime lambs, cattle and crops.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Farm Sale Deltroit

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