Colliers’ John McCann completes final piece of a precinct-wide puzzle, having transacted every major asset within the Parramatta pocket since 2010.
In a landmark transaction for Western Sydney’s commercial property market, 10 Smith Street, Parramatta has sold for $82 million, marking the latest and final piece in a 15-year series of major sales for John McCann, National Director of Capital Markets at Colliers who has taken part in each of the transactions of the block.
The eleven-level, 5-Star NABERS Energy-rated A-Grade office tower is one of Parramatta’s most comprehensively refurbished commercial assets. With a net lettable area of 13,368.9sqm, 165 car spaces, and a strong mix of government and corporate tenants, the building stands out for its quality, amenity and resilience in a competitive leasing market.
John McCann, who led the sale campaign alongside James Mitchell, said, “10 Smith Street is a standout building in the Parramatta CBD, not just because of its quality and location, but because of how well it has been maintained and modernised over time.”
“The recent upgrades to the lifts, bathrooms, foyer and café frontage have ensured it remains highly competitive in a rapidly evolving market. We’re proud to have delivered a strong result for our client and to see this asset continue to play a key role in the city’s commercial landscape.”
The sale of 10 Smith Street also marks a personal milestone for McCann, who has now transacted every major commercial asset on the block bordered by Smith and George Streets over the past 15 years, a rare accomplishment in any CBD.
“It’s been incredibly rewarding to be involved in the transformation of this entire block. When I first started working on these assets, Parramatta was still emerging as a commercial hub. Since then, we’ve seen the precinct evolve dramatically, from older-style B-grade buildings to modern, high-performing office towers that attract institutional capital and major tenants. Each sale has played a part in reshaping the city, and 10 Smith Street is the final piece of that puzzle,” said Mr McCann.
The block’s transformation began with the $48.3 million sale of 25 Smith Street in 2010, followed by the $84 million sale of 18 Smith Street in 2016, the $87.25 million sale of 20 Smith Street in 2022, and most recently, the $50 million sale of 75 George Street in 2024. Together, these transactions represent over $350 million in capital flows and a significant uplift in the precinct’s commercial profile.
Located adjacent to Parramatta Square and within walking distance of the ferry wharf, Westfield, and the rail and bus interchange, 10 Smith Street also offers long-term development potential. With a current FSR of 3.6:1 and zoning that permits up to 6:1, the site is well-positioned for future high-rise redevelopment (STCA).
Mr McCann added, “Parramatta is no longer just Sydney’s second CBD, it has become a destination in its own right. With billions in infrastructure investment, a growing residential population, and a maturing office market, the future is incredibly bright. We’re seeing strong interest from both domestic and offshore capital, and I expect that to continue as the city cements its place as a key commercial and cultural centre.”
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