Three people at the Huon Creek Road property were woken by the fire on Friday morning.

Fire crews were called to the scene, near Yarralumla Drive, about 1am on April 19.

A two-storey red brick shed was engulfed by flames when firefighters arrived.

Fire crews from Albury had to be called to the incident to assist with an aerial water pump.

The flames were eventually extinguished but the contents of the shed were destroyed.

Owner John Potter said he felt devastated after the ordeal.

He had been at the home with his son and a guest.

"It was very lucky, my son could hear banging, we thought it was something falling on the roof," he said.

"When we got out the garage was well alight.

"We called the fire brigade immediately and while they only took five to 10 minutes to arrive, it was well lit by that stage.

"There were about three lawnmowers including a fairly expensive Kubota, there was a small truck, chainsaws, hedgers, a lot of items."

Mr Potter said he didn't know how the fire started.

He said the building was about 12 to 15 years old and was made to fit in with other buildings at the property.

"I suppose we're devastated, A that it occurred and B, we just don't know how it occurred," Mr Potter said.

Firefighters prevented the flames from spreading to nearby buildings.

The damage bill is likely to be several hundred thousand dollars.

Police and Fire Rescue Victoria staff are investigating the matter to determine the cause, but the fire does not appear to be suspicious.

Police have spoken to the residents and have conducted a preliminary examination of the shed.

An engineer is required to determine if the building is safe to enter for examination.

The incident followed an unrelated blaze that damaged a Brewer Drive home a week earlier.

Brian and Pam Waldron's property was burnt during that incident, on April 12.