Crop17 – a new initiative to support the development of medical cannabis facilities – has been launched by Savills in partnership with Hanway Associates, a leading cannabis strategic consultancy, and CambridgeHOK, an innovative glass-house builder.
Crop17 is 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 the aim is to help British farmers and landowners capitalise on medical cannabis opportunities.
Alex Bragg, Director at Savills, comments: “The UK agriculture sector is embarking upon a period of unprecedented change. For the forward thinking and innovative farmer and grower adapting into new markets is a key priority. This Crop17 is the type of innovation we expect to see more of within UK agriculture.”
Agri-TechE is hosting an event “From Farmer to Pharma” on 14 May 2020 discussing the cultivation of hemp and cannabis. George McBride, Co-Founder of Hanway Associates, will be chairing the meeting.
He comments: “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.”
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 aim is to support 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.
More information about Crop17
For more information about “From Farmer to Pharma” to be held at Rothamsted Research – 14 May 2020 – click here.