A 74-year-old bus which was badly damaged during a fire last year will not be scrapped, its owners have confirmed.

The rare King Alfred Leyland Olympic JAA 708 was one of eight vehicles impacted by an industrial blaze which swept through Penton Mewsey, near Andover, on December 8.

Seven buses belonged to private owners yet this special bus was owned by charity Friends of King Alfred Buses (FoKAB).

The charity explained the significance of the bus and successfully persuaded its insurance company not to insist on its destruction.

With help from the National Association of Road Transport Museums, the "complex and at times very discouraging" insurance issues were navigated and resolved.

Hampshire Chronicle: A full assessment of the restoration challenge ahead will now be conducted.A full assessment of the restoration challenge ahead will now be conducted. (Image: Stephen Bigley)

Chairman James Freeman announced on Friday, April 5, that an agreement had been reached with insurers for the claim to be paid and the remains of the bus returned to FoKAB with the aim of giving it a long-term future.

"This is a superb result," said James.

"Having recently the removal of the bus to our facility near Winchester, where it is safely under cover, we can now embark on the next stage of this operation, which is to carry out a very careful assessment of the challenge that would face us, were we to attempt a full restoration of JAA 708."

Read more: ​Penton Mewsey fire: King Alfred bus destroyed in devastating fire

It comes just after the museum launched a comprehensive nationwide survey designed to grade and list its members' preserved buses and coaches.

The ‘Bus Inspectors’ are now embarking on their national task, which will be of enormous assistance for explaining the value of each vehicle in the wider context. 

Chairman Dennis Talbot said: "It is good that NARTM was able to play its part assisting FoKAB to a positive outcome and this makes clear that a significant benefit of our scoring and grading system will be its ability to show how unique specific vehicles are in a national context. 

"We hadn’t considered its use in such tragic circumstances, of course."

Some insurance companies 'don't appreciate' unique value of historic vehicles

The JAA 708 is Hampshire’s first underfloor engine bus, rescued from Ireland and lovingly restored over many years before its relaunch in 2012. 

Hampshire Chronicle: Most of the building was destroyed.Most of the building was destroyed. (Image: Fire service)

It was the only King Alfred bus in the building when the fire broke out.

Mr Talbot continued: "It seems that some companies insuring historic vehicles don’t appreciate their unique value and seek to treat them like everyday cars, where if one is written off you would simply take the money offered and buy an equivalent car. 

"With this experience under our belt, we may be able to improve the insurance experience of NARTM members in future."