In 1933 Fairey, having established a proven track record in the design and construction of naval aircraft, commenced development of an entirely new three-seat naval aircraft, intended for the twin roles of aerial reconnaissance and torpedo bomber. Receiving the internal designation of "T.S.R. I", standing for "Torpedo-Spotter-Reconnaissance I", the proposed design adopted a biplane configuration and a single 645 hp Bristol Pegasus IIM radial engine as its powerplant. The company chose initially to pursue development of the project as a self-financed private venture while both customers and applicable requirements for the type were sought. Development of the T.S.R. I was in parallel to Fairey's activities upon Air Ministry Specification S.9/30, for which the company was at one point developing a separate but broadly similar aircraft, powered by a Rolls-Royce Kestrel engine instead as well as employing a differing fin and rudder configuration.