It is hoped a ‘potentially substantial’ cash injection could help make more of Sheerness and its history.

Swale council has put in a bid to the Heritage Lottery Fund for an undisclosed sum.

It is through the Townscape Heritage programme, which aims to help communities improve conservation areas in need of investment – and the council will find out if it has been successful in January.

On the group’s website, it says grants of between £100,000 to £2 million can be applied for.

The bid was made at the end of last month. If successful, part of the funding will be used on the water tower in Trinity Road as well improving other aspects of the town’s heritage, including the restoration of St Paul’s Dockyard Church.

It has been proposed that, if the funding is given, part of it will be set aside to help any future developer to ensure the water tower is restored and converted.

We reported last month how a survey revealed significant movement to one of the landmark’s external walls.

The inspection followed the launch of the Trinity Road Development Brief, which aimed to revamp the whole area, including the former Alldays store, empty council offices (now occupied by Restoration Youth), car park and Island Partnership.

A consultation into three options for its future was held and most residents who responded were in favour of keeping the tower and redeveloping the area.

A report discussing the possibility of purchasing the 150-year-old water tower is due to be discussed at a council cabinet meeting tonight (Wednesday).

It sets out a recommendation that the council enters into an agreement with the owner to buy the site, which it hopes will lead to its redevelopment.

If this is agreed, the next stage will be to find a developer.

Cabinet member for regeneration Cllr Mike Cosgrove said: “The heritage of Sheppey is important to its residents and, if successful, this bid will help boost that within Sheerness for its community and the hundreds of visitors each year.”

If the bid is successful, a more detailed plan will be put together setting out the specifics of what the money will be spent on.