Real estate gurus Gavin Knee from Burke and Smyth and Bob Newlan from Raine and Horne said the market had remained strong throughout the pandemic despite an initial drop off.

Burke and Smyth negotiated in excess of $60 million of commercial real estate last year.

"That was strongly finished in the last couple of months of the year, with four large deals totaling over $40 million," Mr Knee added.

Burke and Smyth's two biggest deals of the year involved the sale of the Harvey Norman complex and the East Tamworth Medical centre, both selling for about $14 to $15 million.

Both were sold off-market to interstate investment fund managers, one of which Mr Knee called "one of the biggest shopping centre owners in Australia".

Commercial real estate across the country fared better than expected, and Tamworth was no different.

While there were less sales than normal, that's been touted as a good thing.

"There has been no forced or distressed sales in our commercial market at all," Mr Knee said.

"Most property has been driven by off-market transaction. We now have the large fund managers looking at Tamworth to invest, which they've been looking at, but to get that solid commitment here with the sales is a really, really good sign for Tamworth moving forward."

While exposing weaknesses in other areas on investment, he said coronavirus showed why commercial real estate is one of the most popular investments.

"2020 as a whole was a strange start to the year like everyone, but with interest rates being so low we are seeing so many buyers move money out of term deposits where they are not getting the returns at all, to buying direct, real commercial property," Mr Knee explained.

The COVID-19 Commercial Leasing Code of Conduct, announced on April 7, attempted to provide order between tenants and landlords.

It introduced conditions for landlords, who couldn't terminate a lease if rent was unpaid during the pandemic, and ensured landlords had to offer waivers or deferrals for 100 percent of the normal rent, and they couldn't increase their rent for the duration of the pandemic.

READ ALSO

Mr Newlan called the policy an "unnecessary step" for Tamworth, with the relationships between the tenants and the landlords already strong.

"All of the properties we manage here had no problems even before the policy was introduced," Mr Newlan explained.

"It's like the saying 'happy wife happy life' - happy tenant happy life. Working with an existing tenant is far better than having a building sit empty for one, two, three, however many months, which at the moment could be the reality for a while."

Mr Knee called the policy "fair", saying the process smoothed away the confusion rife before it was introduced.

"With the 125 odd properties we manage ... about 20 properties were affected, and within three months there were only three or four on that turnover versus rent system," Mr Knee explained.

And by September 1, everyone was back to operating as normal.