This article is from the Australian Property Journal archive
AUSTRALIAN-British billionaire hedge fund manager Lord Michael Hintze is hoping to sell off a northern NSW livestock farm for a figure in the mid-$30 millions.
Lord Hintze bought the 7,489-hectare Warrane, 18 kilometres north west of Armidale in the NSW New England region, in 2007 for $22 million in a leaseback deal. MH Premium Farms took over operations in 2014.
Warrane is rated to carry 58,000 dry sheep equivalent and in recent years was producing beef cattle, prime lambs and merino wool.
A clearing permit has been granted for more than 2,000 hectares, 325 hectares of which has been completed. Discussions have been had regarding a renewable energy project on the property.
Improvements include a circa-1910 five-bedroom homestead, a new manager’s residence, and staff accommodation.
The founder of hedge fund CQS, Lord Hintze, now owns a portfolio of 40 farms across 17 aggregations, totalling about 70,000 hectares along the eastern mainland states.
A year ago, Hintze netted about $40 million from the sale of grazing and cropping properties in NSW, which followed his $100 million spend on buying the South Callandoon mixed farming aggregation near Goondiwindi, on the border of NSW and Queensland.
LAWD’s Danny Thomas and Col Medway have the Warrane listing. Expressions of interest close 12th May.
