NPIF II – NEL Smaller Loans, which is managed by NEL Fund Managers as part of the Northern Powerhouse Investment Fund II (NPIF II) has announced a five-figure investment into Awesome Franks, a gourmet sandwich and deli concept set to open in Jesmond next month.
Founded by North East food entrepreneur Alex Walker, co-founder of the acclaimed Scream for Pizza, Awesome Franks is using the funding to transform the former Richard Granger Wines unit into a vibrant, family-friendly venue, having acquired the licensing of the space last month. The deli will serve artisan sandwiches crafted from locally sourced ingredients and bread from Northern Rye, with unique fillings such as salt and pepper squid and Northumberland crab.
With this investment, Awesome Franks has been able to refurbish the iconic building, rewiring the electrics and installing a new plumbing system. The space has been completely reconfigured to be made fit for its exciting new purpose.
The venue, named after Alex’s son and his love for superheroes, will also offer deli goods and branded flour. Looking ahead, the business plans to launch a family area and an events space in the deli, aligning with Alex’s desire to create an inclusive space that caters for everyone in the community.
Alex Walker, founder of Awesome Franks commented: “Having worked with NEL in my previous business I know how well you are looked after. Susan and the team truly guide me step by step through the funding process and were in constant contact throughout. The process was clear with lots of support and practical suggestions which I am taking forward in the business. I can’t thank them enough.”
Sarah Newbould, Senior Investment Manager at the British Business Bank said: “Through NPIF II funding, inspiring female founders like Alex are breathing new life into local landmarks, creating welcoming family spaces and serving high-quality products to the local community. Awesome Franks is a great example, proudly using locally sourced ingredients from across the North East. This is a fantastic opportunity to connect with the wider business landscape in the region and we’re excited to see the deli open and watch Alex’s journey continue.”
Susan Snowdon, Investment Executive at NEL Fund Managers, added: “Alex and I had been speaking for a while and it was great to work with her, hearing and learning about her vision for the space. Jesmond has a vibrant community; the location is easily accessible and the premises that Alex secured were crying out for a new venture. I look forward to visiting and wish Alex all the best with the opening.”
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for Northern smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
NEL Fund Managers are also managing the NPIF II – NEL Debt Finance Fund which offers Debt Finance from £100,000 to £2m to established businesses looking to realise their growth potential.
For more information about NEL, please visit www.nel.co.uk or contact the investment team on 0345 369 7007.
