We are delighted to announce the launch of CROP17
Hanway teams up with Savills and CambridgeHOK to help British farmers, food companies and landowners capitalise on medical cannabis opportunities.
Hanway Associates is joining forces with Savills and CambridgeHOK, an innovative controlled environment agriculture construction specialist to launch Crop17 a turnkey solution for planning, building and operating medical cannabis facilities within the UK’s regulatory framework. Savills will help identify potential sites for investment for medical cannabis ventures.
Crop17 will offer an end-to-end solution for investors and businesses wishing to capitalise on the enormous growth potential of the UK’s medical cannabis market. It will provide specific geographical information about a potential cultivation site, alongside regulatory and operational consultancy in order to advise on investment decision making. The turnkey solution will vastly improve the feasibility for businesses looking to become medical cannabis cultivators in the UK.
BDS Analytics has forecast that the worldwide legal cannabis industry generated revenues in the region of £11.5bn in 2019 and is expected to grow to around £35bn by 2024. The potential margins from growing medical cannabis are more lucrative per gram for a grower than strawberries.
The total number of medical cannabis prescriptions issued in the UK could surge from a few hundred in 2019 to more than 185,000 by the end of 2023 if the country follows a similar path to Australia, whose medical cannabis programme has grown rapidly since the government relaxed restrictions in 2018.
Alex Bragg, Director at Savills:
“The UK agriculture sector is embarking upon a period of unprecedented change. A phasing out of subsidies, a new dawn for trade, adapting to meet climate change targets and a huge growth in agtech presents the industry with huge challenges and opportunities. For the forward thinking and innovative farmer and grower adapting into new markets is a key priority. This turnkey solution is the type of innovation we expect to see more of within UK agriculture.”
George McBride, Co-Founder of Hanway Associates:
“Growing cannabis legally in the UK is difficult, but far from impossible. Extensive barriers to entry guard lucrative opportunities in the nascent medical cannabis industry. Crop17 greatly reduces the risks involved in developing a commercial cultivation operation. Only 20 high-THC cannabis cultivation active licences were issued to companies between October 2018 and 2019.”
Steve Hinch, Finance Director at CambridgeHOK:
“We see the medical cannabis sector as a high potential growth area offering attractive returns for our customer base. Alongside working with best in class partners - in Hanway Associates and Savills - we have strengthened our management team to be able to build operational insight into our extensive history of building glasshouses and controlled environment, indoor growing facilities. We believe this collaboration offers a truly unique offering to the market place giving growers/investors a lower risk market entry”.
Our Partners
Savills is a global real estate services provider listed on the London Stock Exchange. Savills operates from over 600 owned and associate offices, employing more than 39,000 people in over 70 countries offering a broad range of specialist advisory, management and transactional services to clients all over the world.
Hanway Associates is a London-based strategy consultancy that helps clients navigate the nascent cannabis industry. They specialise in cannabis research, market entry and M&A strategy, corporate advisory, and strategic communications. Clients include Licensed Producers of cannabis, pharmaceutical and FMCG companies, investment funds and innovative startups.
CambridgeHOK is a forward-thinking, dynamic engineering, energy and construction company which specialises in the design and development of automated vertical farming centres and commercial glasshouses. It has a purpose-built manufacturing facility in the heart of Yorkshire, with a team including experienced structural engineers, mechanical cooling and ventilation engineers, computer control engineers, electrical engineers, project managers, designers, skilled installers and factory workers.