Sun Venture is a Singapore-based investment firm pursuing the development of a transnational asset portfolio. The company recently completed its first Australian acquisition – 50 Miller Street, North Sydney – following the property’s A-grade building refurbishment. With anchor tenants including the US Consulate and WeWork, the 10-storey high-rise is opportunely placed in Sydney’s ‘second CBD’ and expected to benefit from forthcoming urban transformation projects.


MBM provided a full suite of technical due diligence and post purchase advisory services for the office spaces and the car parking facility located under the residential complex. Our consultancy team delivered a replacement cost analysis to highlight potential expenditure risks across the property, inclusive of all separately owned and maintained plant and equipment. MBM’s tax and asset services incorporated depreciation schedules for tax deduction substantiations along with a building reinstatement assessment for insurance.


The scope of services provided by MBM was a full technical due diligence report that incorporated:

  • Building structure, fabric and finishes condition report
  • Mechanical services condition report
  • Electrical services condition report
  • Fire services condition report
  • Vertical transportation services condition report
  • 10-year capital expenditure and maintenance forecast
  • Building Code of Australia (BCA) compliance audit
  • Full environmental due diligence study
  • Tax depreciation / capital allowance schedules
  • Building reinstatement cost assessment


Alan Stewart, Associate in MBM’s Building Consultancy Division, stated “our long-standing relationship with Sun Venture was strengthened through the complexity of this project. Some of the building’s tenants utilise the highest levels of security which presented several challenges unusual to a commercial office tower acquisition. We are thrilled to have supported the strategic investment opportunity through our expertise, market analysis and consultation.


Lead Executive Quantity Surveyor, Alex Gerrard, further noted “our prior engagements with the vendor and investment manager equipped the tax and asset team with nuanced knowledge of the assets and Sun Venture’s requirements. The team’s experience resulted in efficient preparations of depreciation schedules and the completion of a building reinstatement cost assessment tailored to the client’s due diligence parameters.”


MBM’s building consultancy approach delivers unique, cross-sector solutions through extensive project experience. Our involvement during the pre-bid assessment and before commencement of the exclusive due diligence phase contributed to Sun Venture’s successful growth journey in Australia. As trusted and recognised experts in property, our talent continues to create exceptional client value through consultancy excellence.

Related Posts