Built by Dick Pearce of Looe in 1921 for Thomas Pengally, to replace the Olive, and was owned by his family until 1969. Her name was I.R.I.S. after daughters Irene, Rosie, Ida and Susie, but now seems to be known as IRIS. She was converted to a motor fishing vessel with various engines; then used as a lived-aboard in Falmouth until finally resold, rebuilt and restored to sail. She was relaunched in 2011 after completing a 12 year rebuild.
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