The B3406 followed part of the original line of the A272 east of Winchester city centre. It gained its number when the A272 was rerouted via Bar End in the 1960s. However, the road was severed when the A33 Winchester bypass was upgraded to become the M3 in 1985 and so the road is now a dead-end.
The road started on the A272 (now B3330 Bar End Road and headed east up East Hill. The street name soon changed to Petersfield Road although it continued to climb. Presently the road levelled out and continued east. It ended at a long-gone GSJ on the A33 bypass, with Petersfield Road ahead now numbered A31 but still the original line of the A272.