Is this still a flooding Hull? It looks like there is some kind of Keelband on there too?
I have seen a few of these SR4's which have a pretty skinny lay-up on them and that will need to be dealt with properly by stripping it down and rebuilding it. There are two methods I can think of
Strip everything off and turn the Hull upside down
Remove the Keelband
Cut away any loose parts of the keel GRP with a Grinder
Sheath over the Keel with GRP or Epoxy
Fair in with a suitable epoxy compound to the lower sprayrail
Remove the Console
Cut a hole in the Deck
Remove all loose parts of the Keel GRP
Glass in to make the Keel nice and strong in GRP or Epoxy
Replace deck section and glass sheath
Turn upside down and fill gaps with suitable filler
Fair and repaint
I have vastly simplified the explanation of these two methods and would be happy to give you more detailed guidance on both of these procedures if required.