The guide price of the famous Eastbourne building has recently plummeted from £850,000 to £595,000 but trustees say they fear being 'pipped at the post'.

The trust, which has been granted planning permission to turn the building into a bed and breakfast, was disappointed when a mystery bid was accepted last year. However this bid appears to have fallen through and the property is back on the market.

Rob Wassell, chairman of the Belle Tout Preservation Trust, said, "The trustees invested a great deal of time, effort and money into this venture in 2007 only to be pipped at the post a few days before going live to the nation, on the BBC's The One Show, by someone who had the money and could pay for the lighthouse outright.

"The public seemed to be behind us one hundred per cent although whilst they may have supported our aims, we actually received very little money by way of donation.

"It is due to this that we fear we may repeat our effort only to be once again overtaken at the last hurdle."

The trust is now appealing to businesses for help and making 'one last request'.

Rob said, "The Belle Tout is a unique and fascinating building which has commanded attention the world over, we firmly believe that it could be a successful tourist attraction that would generate a profit.

"Whilst some of this profit would need to be re-invested back into the lighthouse to maintain and preserve it, this represents the two key aims of the Trust.

"Firstly to preserve and protect a unique and important part of our history and secondly to open it to the public as an attraction and bed and breakfast."

"We would welcome approach by any business, organisation or person that would be willing to invest in our future heritage whether it is run as a charity or a profit-making business — as long as the aims are met then the objective is accomplished."