THE SS Freshspring, quietly rusting away at a Severnside berth at Collow, near Newnham, has found a new home. She is to be towed to Sharpness for essential repairs in the New Year, and will eventually be restored as a tourist attraction based at Bideford in North Devon.

The group behind the ambitious plans had originally hoped the former Royal Navy water carrier, listed as a vessel of national historic significance on the National Register of Historic Vessels, could find a berth at Lydney.

John Puddy, chairman of the Steamship Freshspring Society, said that though they had made “an expression of interest” to go to Lydney nothing had been heard. However negotiations had been successful with Torridge District Council.

“They have assured the trust that a long term berth will be available. This will enable a bid to be made to the Heritage Lottery and this will be in the region of £3.5m with 70 per cent to fund the restoration and the balance to engage the public in heritage education,” he said.

The trust was formed three years ago with the aim of supporting maritime education and to inspire young people to engage in careers in engineering.

Mr Puddy said: “An important element of the project is to cultivate local support from people who can volunteer in many ways helping to ensure the ship is an asset to the community and support career opportunities for young people.”

Built in 1946 and stationed in Malta, Freshspring is said to have retained many of its original features the chief of which is its triple expansion steam engine. Sold into private ownership the vessel spent time in Bristol and Gloucester before being towed to Newnham.

Freshspring’s new life could begin in the spring when the trustees plan to have her dry-docked and replated at Sharpness before taking her down the estuary to north Devon.

Longterm, the Freshspring could return to Lydney as a visitor as one of the proposals could see her carrying cruise passengers.

There will also be a chance to see her at Collow as she will be open to the public as part of Heritage Open Day on September 13.