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Julio s restaurant  site  open  to offers
Iconic: Julio's restaurant. Picture: Ben Crabtree/ The West Australian

The landmark West Perth building that housed Julio's restaurant - well known for its rich and famous clientele - is set for a change of hands, months after the iconic establishment closed its doors.

Entertainers such as Lady Gaga, Beyonce, Jay Z and Bono from U2 were among diners at the Italian restaurant, which won a prestigious Golden Plate Award for fine dining in 2008.

But former owner Salvatore Sorgiovanni said yesterday though he had not been forced to close the eatery, he decided to do so late last year after failing to find a buyer to relieve him of mounting financial pressure.

The pressure came after some other assets belonging to his company, Bunkerview Investments, were put into receivership over a technical default on a Westpac Bank loan.

Mr Sorgiovanni said he tried to sell Julio's restaurant instead of closing it but claimed interested parties could not raise the finance.

This means the heritage-listed building on the corner of Ventnor Avenue and Hay Street, which is separately owned by Vicwal Pty Ltd, is now selling without the famous tenant that had inhabited the space for almost 30 years.

"Quite simply, if anyone wants to buy a business they have to seek finance, but lately its been almost impossible to get finance," Mr Sorgiovanni said. Legal documents show Colliers International is owed $180,000 on the lease.

Collier's International said offers had been presented for the 804sqm property and a decision could take as little as one week.

Julio's is rumoured to have been a favourite of mining magnate Gina Rinehart and has played host to many high-powered Perth business deals.

Its colourful history includes the so-called "blood luncheon" three years ago, when former Sandfire Resource chairman Miles Kennedy whacked managing director Karl Simich on the nose.

Bunkerview listed among its assets many autographed memorabilia that used to adorn the restaurant's walls.

This includes plates signed by international acts such as Linkin Park, Nickelback, Michael Buble and Lindsey Buckingham from Fleetwood Mac as well as sportsmen Greg Norman and Daniel Kerr.