Commercial property sales in Wangaratta are on the rise, with one local real estate agent seeing a uptick in buyer interest and sales to city-based investors.

Wangaratta CBD properties, including office buildings and retail shops, have changed hands in recent times as well as industrial warehouses.

More investors are moving regionally to increase their corporate property portfolios and beat high government imposed property taxes they've experienced with markedly higher valued land in the cities like Melbourne and Sydney.

It's been one of the most difficult times for businesses over the last few years but now with this activity, Mike Noble, director at Garry Nash and Co Real Estate, believes the business landscape is definitely changing.

"There's been so much doom and gloom in terms of taxes going against investors in Victoria, we have seen that impact commercial sales," he said.

"Buyers have considered NSW with lower taxes across border, and investors in larger cities and metropolitan areas are comparing overheads of regional and city taxes.

"With the industrial and commercial land tax expected to double within the next decade, this is also in the thinking of property holders."

Wangaratta sales have included owner-occupiers, with a business in Murphy Street which will become professional offices.

Another property near Computing Today will also be owner-occupied by professional people.

"Number 2 Sinclair Drive was on the market for four days and we had offers on that and it sold within the week," Mr Noble said.

"That is almost a $1.4 million investment property where Grandin's Parcel Service is operating from."

The Fountain Centre at the corner of Ovens and Reid streets, close to a value of $2 million, has also been sold to a Sydney investor and will change hands by the end of the year after being put on the market in July 2024.

"We thought it would march off the market but things started to go off the boil last year," Mr Noble said.

"Number 31-33 Bullivant Drive, a 900sqm shed, sold in a couple of weeks and Snowden's Engineering were in there.

"The new regional owners are going to divide it up and lease it out."

Mr Noble said word in the real estate industry from Melbourne based commercial agents is things should pick up.

He said there are stories about commercial property owners paying $100,000 in land tax where they can buy in regional areas like Wangaratta and it's only a couple of thousands dollars.

"We also don't have a congestion levy up here, there are multiple taxes, and they are not happy about it," he said.

"I don't want to be flippant about it because the taxes are still quite significant in our market, but compared to Melbourne, we're fortunate."

Economies of scale come into play but if businesses can manage to capture a larger market based out of Wangaratta through tools like web marketing, sales and delivery of goods and services, without higher taxes, it can work out in their financial favour.