Billionaire hedge fund manager Sir Michael Hintze has bought an 842-hectare grazing aggregation in Central Victoria.
It is at Willatook, south-west of Bendigo.
He had paid about $7.5 million, for the latest farm in his extensive eastern Australia enterprise which comes with a $340 million net value.
The land holdings are valued at $240 million.
Hintze has bought the Webster family property who intend to retire.
Hintze has plans for prime lambs across the aggregation of the Murraba, Maloneys and Glenholme properties.
They have a carrying capacity for about 12,500 sheep, Fairfax Media reported.
The acquisition also included 450 angus cows, 350 yearlings, 30 angus bulls and 150 crossbred ewes.
The enterprise has signalled its preference for expanding its portfolio with properties that have exposure to high-rainfall environments.
MH Premium Farms owns more than 40 properties covering in excess of 72,000 hectares in eastern Australia, producing prime lambs, wool and beef, broad-acre cropping of cereals and oilseeds, and irrigated cotton and sugar.
Sir Michael founded London hedge fund CQS, which manages more than $US12 billion.
His rural business showed a strong $13 million operating profit in its 2017 financial year with continuing good results from the grazing properties and a return to prosperity in the cropping properties where both rain and available water assisted with good returns on crops.
The income was $27 million.
External bank debts are secured by first registered mortgages over certain freehold properties.
The Rabo bank facility of $22 million expires in 2023, and is subject to three yearly reviews.
The Westpac facility of $60 million is a mixture of bank bills, term debt and a working capital facility. The facilities are subject to annual reviews. Its Westpac balance at 30 June 2017 is $49,500,000.
The Westpac facility included debt due to the purchase of the Deltroit property.
