The Guildford Hotel has changed hands after 20 years, purchased by Western Australian billionaire Leonie Baldock for $17.1 million.
Western Australian billionaire Leonie Baldock has bought The Guildford Hotel for $17.1 million from brothers Luke and Domenic Martino.
A granddaughter of the late Peter Wright and a backer of developer Sirona Urban through Quercus Group, Ms Baldock is the state’s seventh richest person, according to the latest Business News Rich 100 publication.
The Martino brothers, behind the consulting firm Indian Ocean Group, have owned the heritage-listed pub for 20 years, restoring the 1886 build after it was damaged in a 2008 fire.
Ms Baldock is now the owner of about 5,000 square metres of land with the hotel at 159-161 James Street, Guildford, and its recent extension to the Vaudeville Theatre at 163 James Street.
More than 3,000 square metres of carpark space out the back of the hotel holds development potential.
A spokesperson for Ms Baldock confirmed the purchase of the site in a statement, acknowledging the work done by the Martino brothers.
“The Guildford Hotel is an iconic venue and what's been achieved by the owners and the operator since the restoration has been remarkable,” the spokesperson said.
“It is a much-loved local venue with a long lease to an experienced operator, and it is in good hands.
“The vendor had a 20-year association with the hotel, and we acknowledge their significant contribution to preserving this heritage asset and establishing it as a valued community venue.
“We also recognise the hotel's heritage and character, its community connections, and its operational excellence.”
National hospitality operator Australian Venue Co will continue its 90 per cent lease of the hotel, which expires in 2042.
Cushman & Wakefield’s Ben Younger, Nick Charlton and Zaahen Kahn were the selling agents, flagging the site’s development potential and a strong holding income as additional points of interest in the purchase.
The Martinos brothers had previously received development approval to build a small shopping centre on the carpark some time ago but had not progressed the project.
RP Data shows The Guildford Hotel was purchased through Belvedere Tower.
Belvedere is owned by Ms Baldock and another one of her investment vehicles, San Ricardo, Australian Securities and Investments Commission records show.
Luke Martino said he was happy with the outcome of the sale, which comes more than a year after the hotel was first put on the market by CBRE.
“We’ve enjoyed our long tenure with the building and are very pleased to pass it onto the next group,” he said.
Ms Baldock’s interests already include several properties in the hospitality sector, including caravan parks at Molloy Island and Bouvard, as well as a motel on Gale Street in West Busselton.
The 2025 Rich 100 estimated her wealth totalled $4.09 billion.
Ms Baldock is a beneficiary of the commercial deals struck by Peter Wright, who was business partners with Lang Hancock.
These deals, through Wright Prospecting, deliver big royalties from Rio Tinto's iron ore production.
One beneficiary, VOC Group, was created by Peter's late son Michael Wright, and is owned by Michael's daughters, Ms Baldock and Alexandra Burt.
The other beneficiary, AMB Holdings, is owned by Peter's daughter, Angela Bennett.
