The Gipsy Moth was taken back to its original shipbuilder in Hampshire

Adventurer Sir Francis Chichester sailed non-stop around the world aboard the Gipsy Moth IV in the 1960s.

It was returned to its original shipbuilder in Hampshire for a �300,000 refit, after 37 years in a dry dock in south-east London.

It is being relaunched in time for another round-the-world trip to mark the 40th anniversary of the original.

[It was] absolutely vital we restored the boat and kept it for the national interest David Green UK Sailing Academy

The yacht had been on public display in Greenwich, but nearly four decades out in London's rain had taken its toll.

Now those behind the project say it looks better than it did when it was first launched.

David Green, chief executive of the UK Sailing Academy, which owns the boat, told BBC News: "I think the voyage was a milestone in British yachting history, Sir Francis Chichester [is] a national hero and the boat [is] iconic as a result.

"[It was] absolutely vital we restored the boat and kept it there for the national interest and future generations to see."

A launch party is being held at Camper and Nicholson's yard in Gosport, where the yacht was restored.

Work to restore it began in January and it will undergo engine and sail trials before sailing before the Queen on 28 June and appearing at Portsmouth's Festival of the Sea, Cowes Week and the Southampton Boat Show.

The Gipsy Moth is due to set sail from Plymouth on its second global voyage on 25 September for 22 months. It will eventually go on display at the new Maritime Heritage Centre in East Cowes, on the Isle of Wight.