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.