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Steadfast invests in business, property valuation consultancy

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Steadfast Group has completed an investment in Robertson & Robertson Consulting Valuers, an independent valuation and consultancy firm in NSW specialising in business and property.

The listed broking network says it has also established Steadfast Valuation Services to reinforce its “whole of risk” service offering, providing Steadfast brokers with access to a resource to ensure clients are adequately protected against a backdrop of rapidly rising asset values.

Steadfast says the valuation expertise of Robertson & Robertson complements the Xenia Discretionary Mutual Fund managed by the Steadfast Risk Group.

It will provide an alternative risk transfer solution for hospitality-based clients, Steadfast said.

In the same announcement last week, Steadfast said it has entered into a new syndicated facility agreement for $660 million to support potential acquisitions.

“As part of Steadfast Group’s ordinary course of business, Steadfast Group is actively evaluating other potential acquisition opportunities particularly in the Steadfast Network,” the statement said.

“The new debt facility provides Steadfast Group with unutilised debt capacity of $315 million.

“This together with free cash are intended to be used to fund the previously announced Trapped Capital Project pipeline and other acquisitions in FY22.”