London House is expected to open locations both downtown and in southwest Orlando’s Dr. Phillips area. The Dr. Phillips location will occupy about 9,637 sq. ft., with more than $2 million spent building a new Norman’s restaurant featuring celebrity chef Norman Van Aken. The restaurant will move after operating for roughly 16 years at The Ritz-Carlton Orlando Grande Lakes.
A pair of private membership clubs—offering fine dining, entertainment and nightlife—are in the works in Central Florida, the Orlando Business Journal reported.
Orlando-based LHO LLC plans to open its London House concept downtown and in southwest Orlando’s Dr. Phillips area, Partner Ben Becton told the Business Journal. Adrian Everett is also a partner in the company, which was incorporated in December. Becton, a realtor with Keller Williams Realty of Lakeland, declined to share more details, saying an announcement will be made in the coming weeks. London House may operate between 8 a.m.-3 a.m.
The Dr. Phillips location of London House is expected to open this year and occupy about 9,637 sq. ft. in two spaces, including the now shuttered Urbain 40 restaurant, the Business Journal reported. It’ll be located along the hot retail stretch where another new restaurant has been proposed in in the 130,000-sq.-ft. Dellagio Town Center.
More than $2 million will be spent building a new Norman’s restaurant—whose celebrity chef is Norman Van Aken—in the 7,500-sq.-ft. space vacated by a former Bravo Cucina Italiana restaurant, the Business Journal reported. Norman’s will move to the space after operating for roughly 16 years at The Ritz-Carlton Orlando Grande Lakes.
The Sand Lake/tourist submarket—which has 14 million sq. ft. of retail space—has a 3.3% retail vacancy rate, which is lower than the overall Orlando-area retail vacancy rate of 5.3%, Colliers International Central Florida reported.
The submarket’s average retail rental rate is $25.01 per sq. ft., compared with the Orlando-area average of $17.83 per sq. ft. Dellagio Town Center—where Winter Park-based Forness Properties LLC is representing the landlord—features rental rates up to $43 per sq. ft., according to Forness Properties’ website.
Meanwhile, London House plans to operate its downtown location in a roughly 20,000-sq.-ft. 21st floor penthouse, according to county records. Entity Adrian R Everett bought the space for $2.7 million on December 26, according to Orange County records. The downtown club is slated to open in 2021, the Business Journal reported.
The urban core concept will add something new to downtown’s retail scene and is well located, the Business Journal reported.
“In Orlando, especially downtown, we really don’t have many rooftop bars and lounges,” said Jorge Rodriguez, executive managing director with Colliers International Central Florida, who wasn’t involved in the deals.
The downtown retail submarket has a 7% vacancy rate, which is higher than the Orlando-area average of 5.5%, Colliers International Central Florida reported. In addition, the submarket’s average retail rental rate is $29.28 per sq. ft., which is higher than the Orlando-area average of $18.78 per sq. ft. The submarket has 3.7 million sq. ft. in retail space inventory, of which 259,000 sq. ft. is available, according to Colliers.