A derelict historic building that has been a target for anti-social behaviour has been put on the market.

The Sheerness water tower in Trinity Road is for sale with a £500,000 guide price.

Palace Auctions describes it as a “unique development opportunity” with “significant profit potential”.

The Victorian structure was a pumping station that supplied water to the town until 1960.

It was built in the early 1860s over three wells for the Sheerness Local Board of Health.

However, since it stopped being used for its original purpose it has fallen into a state of disrepair.

Several attempts have been made to bring it back into use but, so far, none have come to fruition.

In 2013, Swale council applied for a £1.7m grant to save the tower as well as the fire-damaged Sheerness Dockyard Church.

This was turned down by the Heritage Lottery Fund.

The local authority submitted the bid under the Townscape Heritage Programme, designed to improve conservation areas in need of investment.

In 2017, the council approved plans to convert it into 29 flats and maisonettes – seven of which would be spread across three floors.

The building would be retained and an additional 27 parking spaces were allocated in the designs.

However, the development was delayed due to it taking longer than expected to secure funding.

The planning permission has since lapsed.

Palace Auctions says the local authority has confirmed in writing this will be renewed upon application.

In 2020, a Revive the Water Tower campaign was launched and an attempt was made to raise £1 million to secure its future .

An online fundraiser was set up but the efforts were criticised by councillors and the Facebook page set up by those hoping to see it revived closed on November 1 last year.

Over the years, the tower has been a magnet for anti-social behaviour and vandalism.

Five fire engines were sent to the site in September 2022 after a huge blaze broke out.

Pictures of the aftermath revealed the roof of the building had collapsed and the windows on the top floor were singed.

In January, firefighters were spotted outside again after battling to secure the roof which became unsafe during strong winds.

A boy was also injured after crashing through a rotten floor and had to be treated by paramedics.

At the time, Sheerness Town Council chairman Matthew Brown said it was an “ongoing problem” and an “accident waiting to happen”.

The tower has a guide price of £500,000 to £600,000 and is set to go to auction in January.

The Palace Auctions website said: “The site is conveniently located on the western side of the A250 Trinity Road, within walking distance of the town centre’s shops and amenities.

“Schools are within a mile and Sheppey College is just 1,200 yards away.

“Sheerness-on-Sea rail station provides transport links to central London in 80 minutes.”

However, the Mayfair-based property agents say the vendor is “eager” to sell before then and all offers are welcome.