Valued as a testament to the agricultural origins of Oak Bay, the William Henry Noble House, built between 1896 and 1897 and as such predating the incorporation of the municipality, was the farmhouse for a one-hectare dairy farm that stretched east to Windsor Park; located with access to transportation to Pemberton Lands before they were surveyed and therefore valuable as a precursor to the development of the area. The farmhouse retains its original proportions; a later addition is not visible from the lane. The inset porch contributes a rural feel to the adjacent lane and properties. The original creamery is of particular value as the only intact creamery left in the municipality. Its stone and brick construction, with a north facing door and unglazed window, reflect life before electricity.

The site is valued for its association with the Noble family, pioneers who moved to Oak Bay from Manitoba. The Nobles had helped build Norway House, Manitoba, commissioned by the Hudson Bay Company (HBC) as a trading post that, due to its central prairie location, became the crossroads of the HBC inland transport network. William Noble served on the first Oak Bay council for several years. He named both Hampshire Road and Hampshire Terrace after his home county in England XXX. Noble also built the two small bungalow style homes on Hampshire Terrace in 1913.