A lynchpin of Glasgow’s burgeoning southside hospitality scene, The Bungo, has gone up for sale, with selling agents Smith & Clough seeking offers over £1.1million for its freehold.
With an ‘enviable and prominent’ trading position on Nithsdale Road, close to Pollokshaws Road, approximately two miles from Glasgow City Centre, The Bungo is part of a constellation of quality establishments, including Zinfandel, Lunar, Six by Nico, Sur Lie and Moyra Janes Brasserie, while the immediate Shawlands neighbourhood hosts a thriving licensed circuit, all in proximity of no less than three railway stations.
As one of the frontrunners of the Strathbungo eating and drinking scene, The Bungo was established in 2011, and is described as ‘something of a local institution’, with a loyal and regular clientele bringing a good mix of custom, including young professionals, students and families, as well as tourists and visitors to Queens Park and the surrounding amenities.
The Bungo reportedly enjoys an excellent reputation for its quality food and service, with contemporary menus including brunch, small plates, a la carte, as well as catering for vegans and gluten free.
It is also popular with people just having a drink, or a coffee, and acts a real hub of the community, playing host to a weekly pub quiz and a variety of events in the basement function/event space, including regular themed food and drink nights, comedy nights, improv nights, chess nights, still life painting classes etc.
The subjects for sale comprise part ground floor and basement of a three-storey traditional, blonde sandstone tenement style property, accessed via an entrance in the centre of the property, with extensive frontage on either side, all under a pitched tiled roof.
Internally, the premises have retained many original features including exposed stone and brick walls, hardwood floors and ornate high ceilings. There is also a large pencil on canvas drawing by the renowned Scottish artist Nicol Wheatley featuring the bar and the Strathbungo area, and there is a variety of artwork on the walls.
The business is run completely under management with a strong team of staff in place, trading Mon-Thu: 10am- 10:30pm, Fri/Sat: 10am-midnight, and Sunday 10am-9pm.
Draft accounting information for the year ending 31st December 2023 shows a turnover of £984,291 net of vat, producing a gross profit of £712,667 and an adjusted net profit of circa £187,000.
Smith & Clough can provide full accounting information to interested parties only after they have formally viewed the business.
