Deltroit fetches $16.3 million in sale to MHPF

Deltroit fetches $16.3 million in sale to MHPF
Jonathan ChancellorSeptember 11, 2016

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 is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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