THE Guildford Hotel has been an institution in the area for 140 years so when owners Luke and Domenic Martino decided to put it up for sale, they wanted it to go the right person.

“Because of our long association with the hotel we both had mixed emotions about selling but I feel we are entrusting the hotel to a terrific family,” Luke Martino said.

His comments came after the recent announcement that WA billionaire Leonie Baldock has bought the iconic hotel for $17.1 million.

Mr Martino said he believed the new owners had the capacity to take the hotel to the next level and he was very comfortable with the sale.

Mrs Baldock is the granddaughter of late mining magnate Peter Wright and one of Australia’s richest people.

Mr Wright built up a huge fortune after he established a mining partnership with mining mogul Gina Rinehart’s father Lang Hancock in the 1950s.

Luke and Domenic Martino are director and chairman respectively of the national consulting firm Indian Ocean Group and have owned the Guildford Hotel for nearly 20 years.

One of their biggest challenges was restoring the heritage-listed building after it was extensively damaged by fire in 2008.

The fire could have meant the end of the structure itself as the first floor of the hotel was gutted.

Despite this setback and with the 1886-built hotel sitting empty for years the local community did not give up the fight, waging a ferocious campaign to save the building.

With the extensive restoration work completed in May 2016 the Martino brothers’ dream of a fully restored hotel finally came to fruition and the historic pub was returned to its former glory.

The current hotel operator is the Australian Venue Company which has leased the venue until 2042.

The hotel’s large corner site at 159-161 James Street is not without its controversy with plans for a five-storey development on the block at the rear of the hotel already approved.

The total land area comprises more than 5000 square metres of land leaving the option open for a significant shopping centre or other retail tenancy.

As previously reported in Lack of parking for Guildford Hotel expansion, residents expressed concern about redevelopment and a possible extension at the back of the hotel.

Adjacent to the Guildford Hotel at 163 James Street, the historic Vaudeville Theatre has recently been transformed into The Hall: a casual beer hall and expanded beer garden featuring a $2.8m renovation that opened in July 2024.

In response to questions from Echo News, a City of Swan spokesperson said, “The city is not able to comment on this matter.”