The Peggy may be back in her dock by 2029, according to Manx National Heritage.

Enterprise Minister Laurence Skelly was asked by Jason Moorhouse MHK (Arbory, Castletown and Malew): ’When plans will be made for a return of the Peggy to Castletown; and if he will make a statement?’

The Peggy is an armed yacht built in 1789 for George Quayle (1751-1835), a prominent politician and banker.

Responding to Mr Moorhouse, Mr Skelly said the information provided by Manx National Heritage when the former asked previously was still correct.

MNH said: ’Numerous analyses of Peggy (water content, salt content, 3D recording, paint survey, rig interpretation) since her move have informed our conservation strategy.

’We estimate she is currently half way through the tricky process of drying and remains under close observation to prevent damage. We are currently working to produce a detailed CAD model of Peggy that will be used in conservation, interpretation and design.

’Originally we anticipated we might have to undertake major repairs but if she continues to remain stable it is likely that we may only need to undertake cosmetic work to the hull exterior in particular to ready her for public display. We aim, eventually, to display Peggy rigged.’

It also said that it hopes the drying process will be completed ’within about five years’ followed by a period of restoration through cosmetic repairs to prepare her for returning to public display.

MNH added: ’The construction of a new home for Peggy poses real challenges of design, engineering, planning consent, and financing. It is not possible accurately to predict how long it will take to meet them but MNH is seeking to move Peggy back to Castletown within 10 years.’