A CLASSY old lady of the sea is coming back to Teignmouth tomorrow.

Louly is one of the famous Monaco class of luxury cruisers built by the legendary Morgan Giles yard, and is returning for the first time on her 50th birthday.

And a big welcome is expected from former craftsmen at the renowned yard – now long gone and replaced with flats – and dozens of interested residents, when she puts into the harbour at about noon, weather permitting.

There are not many of these early models with an open deck left, and despite her age, Louly still attracts admiring looks.

She was rescued from a nautical scrapyard by Derek McClarron, who has spent years and a great deal of cash, restoring the old girl to her former glory.

Louly is currently moored at Torquay marina, and Derek is sailing her to Teignmouth for the afternoon because he was persuaded that residents would love to join in the birthday celebrations.

'I bought her for £1 in 1995 from the former owner, Max Williams, a friend of my dad, Doug, because she was in very poor condition, and rotting away. He had kept her in storage at Totnes, after bringing her back from the south of France, where she spent 15 years cruising the Med,' said Derek, who runs a boat transport business from Torquay.

'Louly deteriorated badly, but a boat builder who served his time at Morgan Giles told me that the main structure was still sound, and if the hull was put right, she could be saved.

'I spent about six years and £25,000 restoring her. It has taken a lot of time and kept me skint, but it was a labour of love. There is still some more work to do, but she looks superb and I intend to keep her for cruising around local waters. We are both the same age.'

One admirer who will certainly be there to greet Louly is Michelle Thomas, from the Morgan Giles family, who lives in Newton Abbot. She remembers being at the launch as a 15-year-old.

Her grandfather, Francis, designed the Monaco class after her father Michael persuaded him that motorboats were the future.

She said: 'Morgan Giles had always built sailing yachts, and grandfather was not so keen on motorboats, but father insisted.

'The design was based on the successful motor torpedo boats that we built during the war, and you can spot the resemblance.

'I keep track of all our old boats, and I am over the moon that Louly is coming back to Teignmouth.'

Louly, which cost about £6,000 to build in 1959, is now worth around £50,000 for insurance purposes. She is 36ft long, with a 12ft 3in beam, and weighs seven tons.

Constructed of Thames marine ply on laminated Canadian Rock Elm frames, Louly is a real eye catcher – she recently featured prominently in a Sunday Times magazine travel feature on Torbay.