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From local news:
Tavistock Group plans to open an upscale restaurant on International Drive later this year, replacing Race Rock, a midmarket eatery with an automotive theme.
Race Rock ended an 11-year ride on I-Drive last week when its owners sold their building and three-acre property to Tavistock, an Orlando private equity firm. Race Rock was probably best known to commuters for its eye-catching, giant-wheeled monster truck, Big Foot, parked behind the restaurant close to Interstate 4.
"I feel this is one of the absolute best sites we could have," said Rasesh Thakker, Tavistock's senior managing director. "It has tremendous visibility on International Drive, one of the most heavily traveled streets in the world."
For Tavistock, the $7.5 million purchase is really a homecoming. Thakker said the company owned the property in the early 1990s, when it included a now defunct dinner theater, King Henry's Feast.
Tavistock has a restaurant subsidiary in California that operates seven brands with 20 locations, most in the West. It also has eateries at two Central Florida country clubs, Lake Nona and Isleworth.
Thakker said the I-Drive restaurant, which is close to Pointe Orlando and the Orange County Convention Center, would be a new concept for the company. He said the 18,000-square-foot building that housed Race Rock will be renovated.
"Our concept will appeal to both family and business dinners," Thakker said. "We'll be open in the last quarter of the year."
Bobby Moore, a partner in Race Rock, said rising property values on International Drive promoted the sale.
"We were still doing great numbers," Moore said. "But the property just became too valuable to operate as a Race Rock."
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Tavistock Group plans to open an upscale restaurant on International Drive later this year, replacing Race Rock, a midmarket eatery with an automotive theme.
Race Rock ended an 11-year ride on I-Drive last week when its owners sold their building and three-acre property to Tavistock, an Orlando private equity firm. Race Rock was probably best known to commuters for its eye-catching, giant-wheeled monster truck, Big Foot, parked behind the restaurant close to Interstate 4.
"I feel this is one of the absolute best sites we could have," said Rasesh Thakker, Tavistock's senior managing director. "It has tremendous visibility on International Drive, one of the most heavily traveled streets in the world."
For Tavistock, the $7.5 million purchase is really a homecoming. Thakker said the company owned the property in the early 1990s, when it included a now defunct dinner theater, King Henry's Feast.
Tavistock has a restaurant subsidiary in California that operates seven brands with 20 locations, most in the West. It also has eateries at two Central Florida country clubs, Lake Nona and Isleworth.
Thakker said the I-Drive restaurant, which is close to Pointe Orlando and the Orange County Convention Center, would be a new concept for the company. He said the 18,000-square-foot building that housed Race Rock will be renovated.
"Our concept will appeal to both family and business dinners," Thakker said. "We'll be open in the last quarter of the year."
Bobby Moore, a partner in Race Rock, said rising property values on International Drive promoted the sale.
"We were still doing great numbers," Moore said. "But the property just became too valuable to operate as a Race Rock."
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