Manx National Heritage estimates the historic yacht Peggy will be returned to Castletown within 10 years.

But the town’s commissioners fear it will be more like 30.

Campaigners led by former chief minister Tony Brown believe this is ’totally unacceptable’ and the historic boat should be brought home much sooner.

Built in 1789, Peggy is the world’s oldest schooner and one of the oldest complete wooden sailing boats.

She was removed from the cellar of the Nautical Museum in Castletown in January 2015 because damp conditions were rotting her timbers.

She is currently housed in a purpose-built humidity-controlled warehouse on the Isle of Man Business Park undergoing gradual drying out.

MNH aims to house her - cosmetically restored complete with masts and rigging - in a purpose-built facility located in the old courtyard behind the Nautical Museum. The facility could cost £5m.

But it will take many years to complete.

Former chief minister and town MHK Mr Brown said: ’We want the Peggy returned. Thirty years is totally unacceptable. She has been gone four and a half years already.

’MNH should have developed plans to house Peggy at the Nautical Museum in Castletown and allow her to dry out there instead of at Braddan.

’That can still happen if there is some financial planning. In three years she can be in a controlled environment.

’I’ve been corresponding with MNH about this for years. There seems to be a reluctance to push this forward. There’s a real danger Peggy does not come back to town.’

Resident and member of Friends of MNH Richard Bedford said: ’Neither before nor at the time when the Peggy was being moved did MNH point out that they would be keeping the boat for decades due to a tall climate controlled display building being required.

’The only agreement at the time that the boat was moved was that it would be taken away, conserved and then returned to the Nautical Museum. Without adequate consultation with all parties MNH seems to have now dug themselves into a hole by planning to extend the duration of the project in order to cover their subsequent decision that the Peggy must be displayed with rigging/masts erected and sails fitted inside an as yet unfunded £5m climate controlled customised building.

’In doing so they are without adequate prior consultation depriving for a period of many future years, the town of Castletown, its residents and its businesses of a major asset and tourist attraction and the presence of our much loved Peggy.’

MNH has also been criticised over its handling of other attractions in Castletown.

The Old Grammar School is closed except by appointment, and there are questions over the future use of the former police station.

Mr Bedford pointed out that if MNH allows itself to be seen by the public as failing to handle the Peggy and other situations openly, fairly and efficiently then the Friends will encounter difficulty in raising funds on which the heritage body depends. A spokesman for MNH said: ’Concerns have been raised about the length of time it is taking for Peggy to be returned to Castletown.

’Unfortunately there is no quick way to dry her out without causing extensive damage to her condition. 

’She had to be removed from the Nautical Museum boat cellar owing to the increasing flooding problem and the ongoing wet conditions which were quite literally rotting her.’

She said that while Peggy dries out, MNH continues to tell her story at the Nautical Museum and regularly opens the doors for visitors to see her in her temporary home.

’Some exploratory plans have already been discussed internally which will enable Peggy to be returned and showcased in all her glory to the Nautical Museum site.

’We will develop these plans further in the coming year,’ she said.