All Articles
Silver Hill

Henderson Property ready to progress with Winchester’s Silver Hill development

Henderson Global Investors’ property business, which manages around £12 billion of property assets, is ready to progress with development plans in Winchester for the city’s 600,000 sq ft, Silver Hill scheme, following expiry of a post-acquisition, conditional period, which ended last Friday (08 July).

Henderson Global Investors’ property business, which manages around £12 billion of property assets, is ready to progress with development plans in Winchester for the city’s 600,000 sq ft,Silver Hill scheme, following expiry of a post-acquisition, conditional period, which ended last Friday (08 July).

The scheme covers approximately one quarter of Winchester and is the largest single development in the area since the Brooks Centre was built in the 1980’s. The design for the scheme, which will retain original architects – Allies & Morrison, will be built to complement the character of the current architecture of the town, providing a gross external area of c. 630,000 sq ft with an approximate breakdown as follows:
95,000 sq ft retail (NIA) (of which foodstore c. 25,000)
18,500 sq ft office (NIA) with 20 car parking spaces
11,000 sq ft medical centre (NIA)
207 private residential units
100 affordable residential units – 35% of which are social rented
C. 168 residential car parking spaces
C. 330 public car parking spaces

It will bring back into full use a significant part of the Historic city centre which has been blighted for a generation by 1960’s development.

Cameron Fraser, fund manager at Henderson, said: “We are encouraged by the strong support that we have received from the local community, ranging from the business community to the City of Winchester Trust. We look forward to engaging with further parties as we progress our plans and intend to work closely with all the occupiers and owners to secure the best possible outcome as we move forward with our compulsory purchase order.

“The attractiveness of the City together with its excellent transport facilities is reflected in it being voted for several years running, the most desirable city to live in England. However Winchester is heavily under developed relative to its location and its dominant position in the South East retail hierarchy. To date, the City has experienced a lack of modern retail units that meet the needs of national and international retailers. We are confident that the provision of new space in the city, will significantly boost the retail offer further and help drive growth in the city, retaining expenditure rather than losing footfall to other nearby competing centres such as Southampton.”

Henderson forecasts that retail sales growth for Winchester will outperform the UK average over the medium term.

George Beckett, Leader of Winchester City Council, said: “It is excellent news for Winchester that Henderson are now in a position to take this hugely important scheme forward. The re-development of this run-down area of the City has taken many years to get to this stage and we are looking forward to work now staring in 2013. The scheme is key to boosting further the economic vitality of the City and will also provide much needed residential space to help people live and work in Winchester.”

Press Office

Gemma Young, Head of Marketing & Communications

+12129165510

Sophie Hinder-Walbank, Marketing & Communications Manager

+442037278251