Henderson Global Investors has made a corporate acquisition of two Thornfield entities which own the Silver Hill mixed-use development project in Winchester, UK. Financial details were not disclosed.

Henderson Global Investors has made a corporate acquisition of two Thornfield entities which own the Silver Hill mixed-use development project in Winchester, UK. Financial details were not disclosed.

The acquisition, which is earmarked for the Henderson UK Property Fund, relates to Thornfield Properties Winchester (TPW) and TPW II, two wholly owned subsidiaries of Thornfield Ventures, which entered into administration earlier this year.

Silver Hill, which has been on hold since Thornfield entered receivership, consists of 600,000 sq ft (55,000 m2) of space, representing the largest single development in the area since the 1980s. It will offer around 95,000 sq ft of retail, 18,500 sq ft office, 11,000 sq ft of medical centre, 207 private residential units, 100 affordable residential units and around 500 parking spaces. The project is expected to be completed in 2015.

Cameron Fraser, fund manager of the Henderson UK Property Fund, said: 'The development of this substantial area of Winchester is an exciting addition to our portfolio which fits well within our fund strategy for value add opportunities. The acquisition provides the fund with exposure to a distressed retail development opportunity in a prime South East location at a heavily discounted value.'