The community watchdog group fought in vain to save the historic but derelict building, opposite the Flagstaff Hill Maritime Village, from its demolition last year.

Next week the group will launch its report into 13 key lessons taken from the controversy, with 15 recommendations to Heritage Victoria (HV) and Warrnambool City Council (WCC), including a cost analysis and schedule to repair the Fletcher Jones water tower.

The group's case study was gathered using HV and WCC documents, interviews with key staff and councillors, and current and past owners of the property.

President Julie Eagles said Fletcher Jones was the most pertinent example of a heritage listing in need of assessment to prevent further structural deterioration.

"It's looking kind of sad," Ms Eagles told The Standard.

"It's our most high-profile site, a site local people have a strong connection to, and we know from other comments at various times that people are concerned about what's going to happen to it.

"We'd like there to be a more proactive arrangement so there's a maintenance plan for the silver ball, and we'd like to know how much it will cost to keep on our skyline.

"If people in the community really like it we can have some fund-raising to contribute to the cost of maintenance."

The group's report states the Fletcher Jones building, gardens and water tower are at risk of reaching a "demolition by neglect" status.

"We would like to see HV and WCC take a proactive role with the owner to find a solution for renewal of this site and a way to share the stories attached to its history," the report reads.

"It would be great if this could be the real and positive legacy of what happened to 94 Merri Street."

Copies of the report will be available at the open launch on July 11, 4pm at Flagstaff Hill's Sail Makers Loft, with electronic copies available afterwards from julie.eagles@bigpond.com

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