The Pendennis Shipyard has excelled itself time and time again but the complete restoration of the classic motor yacht Malahne is world-class workmanship by the highly skilled workers at the Falmouth yard.

In September 2012 the heavy lift vessel Condock V brought the Malahne to Falmouth for restoration.

Battered and bruised Malahne looked tired when she docked at the Pendennis yard.

Shrouded in secrecy, which is common in the super yacht world, the task of transformation began and now 30 months later the result is nothing short of spectacular.

Mike Carr, managing director at Pendennis, is extremely proud of the standard of workmanship on-board. He said: “Over the past two and half years the team here has worked incredibly hard to bring Malahne back to life. Seeing the final transformation from her 1980s form back to her original design, her launch marks a proud moment for everyone involved. Our tradespeople from all areas have applied quality, care, pride and passion to every aspect of the project. There have been unprecedented opportunities to showcase their restoration skills, whilst sympathetically integrating modern systems. Malahne now commands a special place in the Pendennis fleet.”

While many people share a love for historic yachts, Nicholas Edmiston, chairman of Edmiston & Company, was uniquely placed to rescue and restore Malahne, having previously played vital roles in the rebirth of both Nahlin and Bluebird.

He had followed the chequered history of the yacht for decades, and said: “I was fortunate to interest an owner who understood and embraced this vision, and who entrusted Edmiston to pull together a team that could bring Malahne back to life.”

Nick subsequently organised a project team and shipyard, who shared the passion and transformed this dream into a reality.

Malahne's restoration has been carried out by Pendennis Shipyard, with classic yacht experts GL Watson & Co providing the exterior design and the interior design for the crew accommodation.

As William Collier, its managing director, said: “The Malahne project is the most ambitious motor yacht restoration yet undertaken. The challenge of recreating many of the yacht's features while achieving a faithful restoration of the hull shape has been very rewarding. Together we have brought an historically important yacht back to life. Malahne appears as she did in the 1930s, while having all of today’s conveniences.”

On-site project management was provided by GL Watson and Edmiston Yacht Management (EYM), who pooled their complementary design and technical expertise to work closely with Pendennis. Strong teamwork was required to restore the aesthetic and historical integrity of the yacht, while simultaneously installing the highest standards of modern comfort, technology and safety. As Malahne emerged from the build shed, Jacqui Lyne, EYM director, summed up the excitement of all members of the project team: “It is like seeing a beautiful butterfly emerge into the sunlight.”

The chairman of Woolworth’s in the UK WL Stephenson originally commissioned Malahne in 1937. He already owned the J Class yacht Velsheda, which was named after his daughters Velma, Sheila and Daphne. For Malahne he used the second halves of the threesome's names. Stephenson cruised extensively on both sides of the Atlantic, but with the outbreak of war Malahne was commandeered by the Admiralty. As HMS Malahne, the yacht served on the Channel Patrol, and took part in the Dunkirk evacuation before seeing service for the Fleet Air Arm.

Elizabeth Taylor, Greta Garbo, Peter Sellers, Kirk Douglas, Grace Kelly and Jack Nicholson are just a few of the many famous film stars to have cruised on this yacht.

Acquired in 1960 by movie producer Sam Spiegel (The African Queen and Bridge over the River Kwai) he used the yacht as his floating production office during the filming of Lawrence of Arabia.

On completion of trials, Malahne will be one of the most detailed, distinctive and beautiful motor yachts to be launched in recent decades, suitably reflective of an incredibly glamorous era of yachting. After sailing from Falmouth, she will return to the Mediterranean where she will be enjoyed by her owner. Edmiston Yacht Management will manage yacht operations, and Malahne will be available for charter through Edmiston.