FAITHFULL Street could be home to the biggest investment in Wangaratta’s history, with plans to attract developments of up to $25 million into the precinct.

Developing the plan is the next step in council’s ongoing project in the precinct, and follows on from the retail audit released earlier this month.

And council is talking about a big scale, with the aim of attracting investments of between $10 and $25 million in order to properly capitalise on the dual features of Ovens River and Faithfull Street frontage.

"That is the scale of investment this precinct is likely to attract," Mr Nickless said.

Mr Nickless said the revitalisation of the precinct would involve shops and cafes with views of the Ovens River.

"We are looking at the Docklands in Melbourne and are hoping for those contemporary style designs," he said.

Council will also send a delegation to Geelong to assess the recent revitalisation of its foreshore precinct.