HMS Holland 1 Holland 1 ( or HM submarine Torpedo Boat No 1 ) was the first submarine commissioned by the Royal Navy , the first in a six - boat batch of the " Holland " - class submarine . She was lost in 1913 while under tow to the scrapyard following decommissioning . Recovered in 1982 , she was put on display at the Royal Navy Submarine Museum , Gosport . History . In 1901 she was ordered from John Philip Holland and built at Barrow - in - Furness . The keel was laid down 4 February 1901 . In order to keep the boat ’ s construction secret , she was assembled in a building labelled " Yacht Shed " , and the parts that had to be fabricated in the general yard were marked for " pontoon no 1 " . She was launched on 2 October 1901 and dived for the first time ( in an enclosed basin ) on 20 March 1902 . Sea trials began in April 1902 . In September 1902 she arrived at Portsmouth with the other completed " Holland " boat and along with HMS " Hazard " ( their floating submarine base ) made up the " First Submarine Flotilla " , commanded by Captain Reginald Bacon . Recognizing how dangerous the new submarines could be , he proceeded cautiously with training his small band of volunteer officers and men . There were accidents and disappointments , but just a few months later Captain Bacon reported that : On 3 March 1903 " Holland 1 " suffered an explosion that caused four injuries . On 24 October 1904 , with the rest of the Holland fleet and three " A " - class boats , " Holland 1 " sailed from Portsmouth to attack a Russian fleet that had mistakenly sunk a number of British fishing vessels in the North Sea in the Dogger Bank incident . The boats were recalled before any attack could take place . The submarine was decommissioned and sold in 1913 to T W Ward ( limited ) for £410 . By the time the submarine was sold she was considered so obsolete that she was sold with all fittings intact , and the only requirement put on the purchaser was that the torpedo tube be put out of action . Loss . While being towed to the scrapyard " Holland 1 " encountered very severe weather and sank about a mile and a half off Eddystone lighthouse . No one was on board the submarine at the time , and , since the submarine had been seen to be sinking earlier in the journey , the crew of the tug were ready to release the tow rope , preventing any damage to the tug . Recovery . The wreck was located in 1981 and in November 1982 she was raised . From 1983 , after coating in anti - corrosion chemicals , she was displayed in the open air at the Royal Navy Submarine Museum . However by 1993 it was apparent that the treatment had proved inadequate . A fibreglass tank was built around her , and she was immersed in sodium carbonate solution from 1995 . After four years the corrosive chloride ions had been removed , and she was able to be displayed again after restoration work . Listed as part of the National Historic Fleet , Core Collection , in 2001 , on her centenary , a new purpose - built climate - controlled building was opened by Countess Mountbatten . In the same year the Royal Mail put a photo of the submarine on a 65 pence stamp . In 2011 the submarine was given an Engineering Heritage Award by the Institution of Mechanical Engineers It is worth noting that the original bank of batteries , recovered with the wreckage , were provided for testing to the original manufacturer , Chloride Industrial Batteries Ltd based in Swinton , Manchester . Following the initial clean , the lead batteries were recharged and found to be in good working order . Some of the original batteries still remain in the possession of Enersys ( ex - CIBL ) at the Newport plant , in South Wales .