Stop and Shop buys Golden Dragon restaurant property

Stop and Shop buys Golden Dragon restaurant property

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The Stop and Shop Company plans to expand into the space now occupied by a former restaurant and clothing store.

The Stop and Shop Supermarket Company has purchased the property and building that houses the Golden Dragon Restaurant and a clothing retailer adjacent to its Vineyard Haven market in order to expand.

Vineyard Haven Stop and Shop store manager Sam Koohy said the property had been for sale for quite a while and that Stop and Shop corporate management decided the time was right for its purchase.

“We’ve acquired the property, and what we’ll do with it is unknown right now,” he said. “Hopefully, barring any problems, we’ll be able to expand within that domain with a building that will better serve the community.”

Stop and Shop’s real estate company purchased the two-parcel property at 14 Water Street for $950,000 from IB Property Holdings, LLC, a Delaware-based company, on May 11, according to the Dukes County Registry of Deeds. A two-story building that currently occupies the parcel that fronts Water Street houses the Golden Dragon Chinese Restaurant and Sweats of Vineyard Haven.

Although no formal plans have been drawn up, a construction team is putting together ideas for possible options for the store’s expansion, Mr. Koohy said.

“We still have to do all our legwork and go through all the proper channels with the selectmen, town permitting boards, the Martha’s Vineyard Commission,” he said. “We’ll probably start moving forward on planning in the fall.”

Employees at Golden Dragon and Sweats of Vineyard Haven contacted by The Times Wednesday said they were unaware that Stop and Shop purchased the building and they had no knowledge about future plans.