Launceston’s Hallam’s Waterfront Seafood Restaurant up for sale as owner seeks to pay off tax debt

A popular Launceston restuarant is on the market as its owner seeks to pay off a tax debt.

Hallam’s Waterfront Seafood Restaurant. Picture: PATRICK GEE

POPULAR Launceston restaurant Hallam’s Waterfront Seafood Restaurant is on the market for the first time in 32 years as its owner seeks to pay off a tax debt of more than $600,000.

The Park St property is listed for sale by offer, with vacant possesssion.

Salisbury Hallam, the restaurant owner and director of Salisbury Hallam Pty Ltd, appeared in the Federal Court in Hobart on September 12.

DEBT WOES MOUNT FOR RESTAURATEUR

The Australian Taxation Office applied to the court to have the company wound up on the grounds of insolvency.

Documents filed with the court show the company owes the taxation office $668,488.16.

Mr Hallam told the court he had plans to sell the property, owned by his mother, and pay the company’s debt.

Hallam’s, which has ben operating at the Park St site since 1996, is rated 28th on review website Trip Advisor, out of 233 restaurants in Launceston.

The property was listed for sale on Friday.

Real estate agency Shepherd & Heap says the building features main restaurant dining, a separate takeaway area, fully equipped kitchen, outdoor space and potential for outdoor pizza and coffee sales.

“We recommend this rare offering to savvy buyers who wish to capitalise on Tasmania’s booming food and hospitality sector or land bank for future investment upside,” the agency said in its advertisement for the property.

Mr Hallam’s company is expected to face court again on October 10.