Mystery Structure

I decided to go for a cycle ride at lunch time today, and headed over towards Bartlow from Hadstock. Half-way there, there is this very odd structure just next to the road. It is obviously quite old and derelict. The iron casing above the arches looks Victorian. Almost like it has something to do with old steam railways. I thought maybe a water tank for tendering engines?  But the old dismantled railway line is at least a half mile away, and down a hill. Could it have been used to store water pumped up from a well? A small water tower? 

I'd love to know if anyone else actually knows, but also interested in your speculations!