The deal is expected to be finalized on or before May 16.
Charles Patton, owner of Water N' Wine said he plans to build a 1,700 square foot building which will specifically designed for their business needs.
"We're hoping to have construction finished by the end of July," he said.
He said it will be a little higher end than their current location and will have more storage space.
Patton has been in business since 1997 and operating a U-Vint since 2007. He said he currently has loyal customers from as far away as Sydney and Halifax as well as quite a number from surrounding areas such as Sheet Harbour.
"I expect considerable growth for the next three to four years," he said.