Velsheda's first owner was W.L. Stephenson owner of the Woolworth store chain. Designed by Charles Nicholson and built by Camper & Nicholson in 1933 in Gosport. Stephenson had previously owned and campaigned White Heather II and ordered Velsheda with the introduction of the J-Class. Stephenson named his yacht after all three of his daughters, Velma, Sheila and Daphine, taking the first three letters of each name he came up with Velsheda.

Between the years of 1933 and 1936 she raced with some of best known yachts of her day, Shamrock V, Endeavour and Britannia just to name a few. Under the skillful seamanship of Captain Mountifeild she won more than forty races in her second season.

Unlike other J's Velsheda did not have the palatial mahogany and teak interior of her contemporaries. She was quite spartan for her day. Accommodations were limited to a main saloon an owners cabin aft with storage for sails, spare rigging and other equipment forward. Stephenson had a motor yacht built to support Velsheda's racing program and to offer accommodations for his guests aptly named the Bystander.

Over the years Velsheda was neglected and suffered the same indignities as the other surviving J-Class yachts. In 1984 she was rescued from a Hamble River mud berth by Terry Brabant who economically refitted her to use for charter work on the south coast of England along with the occasional trip to the Mediterranean and Caribbean. Later she was sold to a Swiss owner but due to funding problems he was unable to complete the refit he had planned for her.

Purchased as a bare hull in 1996 Velsheda has undergone a "money is no object" a comprehensive rebuild from stem to stern complete with a luxurious interior. All electrical/navigation and mechanical systems were brought up-to-date in accordance with Lloyd's of London requirements. Get the complete story at J Class Yachts/Velsheda/Rebuild

She was re-launched in November of 1997 and true to form she has a restored Bystander still providing the tender support vessel role.