Billionaire Sir Michael Hintze sells blue-ribbon Glaisnock farm for $8.8 million

Billionaire Sir Michael Hintze sells blue-ribbon Glaisnock farm for $8.8 million
Billionaire Sir Michael Hintze sells blue-ribbon Glaisnock farm for $8.8 million

MH Premium Farms has sold the Glaisnock mixed-farming enterprise.

The billionaire hedge fund manager Sir Michael Hintze sold Glaisnock to a local family farming group at auction.

Glaisnock currently grows wheat and canola in rotation and also supports sheep, cattle and fodder enterprises.

Selling agents said the land rate of $8933 per hectare achieved for Glaisnock was a district record, beating the district record by close to $350 per hectare.

Glaisnock had previously been owned by David and Lynette Whitechurch.

Sir Michael, the director of his own hedge fund, CQS Management, paid about $3.5 million for Glaisnock in 2008.

Three parties competed for Glaisnock at its auction earlier this month.

It includes an extensive reticulated water system for livestock, spraying and domestic purposes as well as a homestead and cottage.

Located 26 kilometres from Young, it is in an area described as "blue-ribbon mixed-farming land".

Of the total landholding, 947 hectare (96%) is arable, while the remaining area is comprised of 20 hectares of grazing land and 16 hectares of support land.

Billionaire Sir Michael Hintze sells blue-ribbon Glaisnock farm for .8 million

 

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Rural Listings Berthong

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