Extreme weather conditions over the past couple of winters have caused significant damage to the road which was first built in the 1830s and snakes up 400 ft from a beach level jetty to the inhabited central plateau.
Building preservation charity Landmark Trust has launched a campaign to raise funding to save the road.
The Island, which is home to home to 26 people and the largest seabird colony in Southern England, depends on its beach road for delivery of supplies from the mainland.
Works, which are envisaged as a five-stage programme, are in jeopardy unless the islanders can raise £250,000 to fund the next phase which is scheduled for early 2008.
Pilings to depths of up to 14m are being sunk to secure and reinforce vulnerable sections the precarious road as well as in the sea caves below which require breakwaters to combat erosion.
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