Dubbed a stone frigate, HMCS Prevost is a land-based naval establishment for training part-time sailors as well as functioning as a local recruitment centre for the Royal Canadian Navy (RCN).
London Division Royal Canadian Naval Volunteer Reserve (RCNVR) was organized following a visit in July by Commander E. R. Mainguy, RCN.
Quarters for the division were situated on the second floor of the Darch Building on Talbot Street, and the Market Square was used for parade ground activities.
In the interest of operational efficiency, the Royal Canadian Navy had to employ a common language, English, since the majority of its members were English-speaking.
The Commodore Walter Hose Efficiency Trophy was won by HMCS Prevost, under the command of Lieutenant-Commander J.R. Hunter RCNVR in 1941 and 1942 and again in 1943 and became permanent property of the division.
Specialized training equipment, including gunnery, ASDIC, radar, communication, seamanship and engineering was installed and recruiting commenced.
In August 1949 one 34-metre (112 ft) Fairmile motor launch, HMCS Racoon, converted to diesel power, replaced the two harbour craft.
In October 1950 the boathouse property, situated immediately south of the lift bridge on the west side of the harbour at Port Stanley, was acquired.
The following year a building was moved from the Royal Canadian Air Force (RCAF) Station at Fingal, Ontario and erected at the new site.
A silver replica of the Destroyer-Escort class was donated by Vice Admiral H. T. W. Grant and a system of assessment was prepared and promulgated to all naval divisions.
On 23 November 1957 the building was officially opened by the Minister of National Defence, Honourable George R. Pearkes, V.C., assisted by Commodore A.H.G.
The paying off of the land-locked "stone frigate", the reality of service integration as the building was turned over to the Western Ontario Area Command Headquarters for the use of Army militia units.
Freedom of the city was granted to HMCS Prevost under the command of Lieutenant-Commander M. Hoare by Mayor Diane Haskett on 31 October 1998.
In October 1998, the war memorial to Prevost sailors lost at sea was repatriated to the division from St Paul's Anglican Cathedral of London, Ontario, where it had been safeguarded since 1964.