Popular Newcastle venue expands with 80’s-style cocktail bar following NPIF II and SUL investment
Press release
Awesome Franks, a popular independent food business based in Jesmond, Newcastle, has expanded into a second venue with the opening of a new 80s-themed cocktail bar.
Founded by Alex Walker, Awesome Franks first opened its doors in August 2025 in the former Richard Granger Wines building at West Jesmond Metro station. The business combines a gourmet sandwich café with a delicatessen, championing high-quality produce and creating a vibrant community space for local residents.
To help set up the business, just over a year ago Alex secured a five-figure investment through NPIF II - NEL Smaller Loans, which is managed by NEL Fund Managers as part of the Northern Powerhouse Investment Fund II. Prior to this, Alex also secured a £25,000 loan through the British Business Bank’s Start Up Loans programme, delivered by the Business Enterprise Fund North East (BEF North East).
The funding enabled Alex to refurbish the iconic building, including a full electrical rewire and new plumbing system, transforming the site into a welcoming destination that now hosts art workshops and provides a platform for local independent businesses to showcase their products, from florists to artisan food producers.
Since receiving the funding, Awesome Franks has more than tripled its workforce, growing from three to ten employees, while continuing to build on its original vision.
With the launch of a new 80s-themed cocktail bar in the neighbouring retail unit, Alex is creating a complementary evening offering alongside the cafe, while boosting the local hospitality offering.
Looking ahead, Alex is preparing to launch a third space within the same building by transforming the former Station Master's Room into a grassroots music and events venue. The space will host live music, community events, student nights and themed evenings, with the long-term ambition of creating a hub for local creatives, businesses and community groups.
Alex Walker, Founder of Awesome Franks, said:
From day one, the vision was always much bigger than a café. I wanted to create a destination that could evolve over time, bringing together great food, local businesses, creativity and community all under one roof.
The SUL and NPIF II funding gave us the confidence and flexibility to bring that vision to life. It allowed us to transform the building, grow the team and invest in the next stage of the business far sooner than would otherwise have been possible.
Opening our new cocktail bar is another exciting milestone, and with our third space already in development, we're looking forward to creating even more opportunities for people to come together and enjoy everything we have to offer.
Susan Snowdon, Investment Executive at NEL Fund Managers, said:
Alex has created a business with a real sense of place, combining an excellent hospitality offering with a genuine commitment to supporting the local community and other independent businesses.
It's fantastic to see how much Awesome Franks has achieved since receiving funding. The expansion demonstrates the positive impact that access to finance can have, helping ambitious businesses invest, create jobs and bring new opportunities to their local area.
Sarah Newbould, Senior Investment Manager at the British Business Bank, said:
It’s fantastic to see how businesses can benefit from multiple areas of funding from the British Business Bank, providing new spaces for local communities and creating regional opportunities. By backing businesses like Awesome Franks through NPIF II, we're helping to create new jobs and contributing to thriving high streets across the North East. It's fantastic to see the progress Alex has made in such a short space of time, and we look forward to following the next stage of the business's journey.
The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium-sized businesses to start up, scale up or stay ahead.
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 of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North's smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.
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Notes to editors
About the Northern Powerhouse Investment Fund II
The Nations and Regions Investment Funds increases the supply and diversity of early-stage finance for UK smaller businesses, providing finance to firms that might otherwise not receive investment and help to break down barriers in access to finance.
Operating in a commercially sustainable way the Nations and Regions Investment Funds delivers a £1.6bn commitment of funding through investment strategies that best meet the needs of the businesses in their nation or region.
The British Business Bank is responsible for administering the Nations and Regions Investment Funds on behalf of the UK government. We have established investment funds in areas not currently served by the Bank’s existing regional funding programme as well as launching follow-on investment funds in existing fund areas.
The £660m Northern Powerhouse Investment Fund II provides a mix of debt and equity funding. NPIF II offers a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million.
It works alongside the various support and funding organisations from UK Government as well as local intermediaries such as accountants, fund managers and banks, to support the North of Englands’ smaller businesses at all stages of their development.
The funds in which the NPIF II invests are open to businesses with material operations, or planning to open material operations, in all areas of the North of England, The fund covers the entire North of England including Greater Manchester, Liverpool City Region, Lancashire, Yorkshire & the Humber, Cheshire & Warrington, Cumbria, County Durham, Tyne & Wear, and Northumberland.
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