That'll work
Check the photo forum - the link "windlass installation" on the H37C page at this site will take you to it. I did the same thing, but with a Simpson Lawrence Horizon 1500. Works great. The bottom of the anchor locker is cored with plywood - plenty strong, but pay attention to sealing the core properly when you cut holes in it. I just use the space directly below as the chain locker - I have 25 fathom of 3/8" chain in there with no problem. If you use this space, you will have to do a little glass work to keep water from the anchor chain contained and away from the forepeak cushions. Alternately, use the next compartment down, as Ed Schenck did (see other photo post on same page). I really like having the windlass down out of the weather and it looks better too.