Medical cannabis consultancy Hanway Associates has teamed up with Savills and CambridgeHOK to help British farmers, food companies and landowners capitalise on medical cannabis opportunities. The Corp17 AgTech platform will provide businesses with specific geographical information about a potential cultivation site, in order to advise on investment decision making
As the moral hysteria, racism and classism which had for the longest time stigmatised cannabis use finally dies down, governments around the globe are relaxing their laws surrounding the drug. While recreational cannabis remains illegal in the UK, medical cannabis products were legalised in late 2018, and the market for legal cannabis in the UK could be worth as much as £2 billion in the next four years.
Tapping into the growing market potential of the plant, Hanway Associates – a London-based consultancy specialising in cannabis research, market entry strategy, corporate advisory, and strategic communications – has announced a new partnership with global real estate services provider Savills and controlled-environment agriculture construction specialist CambridgeHOK to help meet the medical cannabis needs of the UK. Crop17 is a turnkey solution for planning, building and operating medical cannabis facilities within the UK’s regulatory framework.
George McBride, Co-Founder of Hanway Associates, said, “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.”
The platform aims to vastly improve feasibility for businesses looking to become medical cannabis cultivators in the UK. 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, while providing specific geographical information about a potential cultivation site, in order to advise on investment decision making.
Alex Bragg, a Director at Savills, commented, “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.”